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Vaughn Corporation has outstanding 20,000 shares of $5 par value common stock. On August 1,...

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Accounting

Vaughn Corporation has outstanding 20,000 shares of $5 par value common stock. On August 1, 2017, Vaughn reacquired 220 shares at $84 per share. On November 1, Vaughn reissued the 220 shares at $75 per share. Vaughn had no previous treasury stock transactions. Prepare Vaughns journal entries to record these transactions using the cost method.

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