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question accounting journal debit and credit 1 record the issuance of 120 000 shares 4281631

Question

Accounting Journal: Debit and Credit

1. Record the issuance of 120,000 shares of common stock with a $5 par value for a price of $60 per share

2. Record the purchase of 30,000 shares of previously issued common stock for a price of $55 per share

3. Record the re-issuance of 12,500 shares of treasury stock previously purchased for a price of $55 per share and sold for $56 per share

4. Record the re-issuance of 12,500 shares of treasury stock previously purchased for $55 per share and sold for $54 per share

 

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