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List lipton journal entries to record

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Question 1: Lipton Corporation has outstanding 22,000 shares of $5 par value common stock. On August 1, 2017, Lipton reacquired 190 shares at $86 per share.

  1. On November 1, Lipton reissued the 190 shares at $75 per share.
  2. Lipton had no previous treasury stock transactions.

Problem 1: List Lipton journal entries to record these transactions using the cost method.

Reference no: EM132462156

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