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Caltomia Surt Clothing Company Issues 1,000 shares of $1 par value common stock at $22 per share. Laler in the year, the comp
Record the transaction i Calfornia Surf reissues the 100 shares of treasury stock at $27 per share. (f no entry is required f
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Answer #1

Journal

1 Treasury stock 2,500
Cash 2,500
2 Cash 2,700
Treasury stock 2,500
Paid in capital from Treasury stock 200

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