Homework Answers
Treasury stock will be debited by purchase amount = Number of shares bought x Purchase price per share
= 1,400 x 50
= $70,000
When 350 treasury stock shares are sold, treasury stock will be credited by = Number of shares sold x Purchase price per share
= 350 x 50
= $17,500
Balance of Treasury stock = 70,000-17,500
= $52,500
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