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Prepare journal entries for purchase of the treasury stock

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Question - Swifty Corporation purchased from its stockholders 5,000 shares of its own previously issued stock for $250,000. It later resold 1,875 shares for $53 per share, then 1,875 more shares for $48 per share, and finally 1,250 shares for $42 per share.

Required - Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock.

Reference no: EM132530744

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