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O A Tremury Stock Common is debited for $ 12.50 Retained Eamings is debed for $12,850 os lock control option command
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Answer #1
When treasury stock are purchased we pass the following entry
Account titles & Explanations Debit Credit
Treasury stock 25300
cash (1100*23) 25,300
hence the correct option is c)
Treasury stock-common is debited for $25,300
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