XYZ Corporation reissued 1,000 shares of treasury stock, originally purchased for $10 a share, for...
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Accounting
XYZ Corporation reissued 1,000 shares of treasury stock, originally purchased for $10 a share, for $8 per share. It had not previously reissued any treasury stock. The journal entry to record this transaction includes a debit to retained earnings for $2,000 a debit to PIC, treasury stock for $2,000 a credit to PIC, treasury stock for $2,000 a debit to treasury stock for $8,000
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