On may 1 company reacquired 2000 shares of its own 2 par

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On May 1 Company reacquired 2,000 shares of its own $2 par value stock for $100,000 cash. On June 30, 800 of the treasury shares were reissued at a price of $70 per share. Record the journal entry for the May 1 transaction?

Reference no: EM13573448

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