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The account Paid-In Capital from Treasury Stock Transactions has a credit balance of $1,500. The corporation resells 350 shar
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350 Treasury Stock of $12 sold for $1 each so total loss is $3850. Here Paid in capital credit balance is $1500 Hence Following Entries will be done

Bank A/c Dr $350
Paid in capital from treasury stock Dr $1500
Retained Earnings A/c Dr $2350
To Treasury stock A/C Cr $4200

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