Business, 14.04.2020 17:28 kalcius674
Wildhorse Co. purchased 4,100 shares of its $8 par value common stock for $274,700 on August 1. It will hold these shares in the treasury until resold. On December 1, the corporation sold 2,460 shares of treasury stock for cash at $73 per share. Journalize the two treasury stock transactions.
Date Account Titles and Explanation Debit Credit
Aug. 1 Treasury Stock 277,200
Cash 277,200
Dec. 1 Cash 183,960
Treasury Stock 27,720 Wrong
Paid-in Capital from
Treasury Stock 156,240 Wrong
Answers: 2
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Wildhorse Co. purchased 4,100 shares of its $8 par value common stock for $274,700 on August 1. It w...
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