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Prepare general journal entries

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Question - Blue Jean Corporation originally issued its 5,000 common shares at $25 per share and all were still outstanding (i.e. none had been repurchased) as of July 1, 2021.

Prepare general journal entries to record the following:

1) July 1, 2021 - Purchased and retired 500 common shares at $23 per share.

2) Aug. 1, 2021 - Purchased and retired another 500 common shares at $30 per share.

Reference no: EM132960981

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