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Prepare journal entries for purchase of the treasury stock

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Concord Corporation purchased from its stockholders 5,600 shares of its own previously issued stock for $291,200. It later resold 1,825 shares for $55 per share, then 1,825 more shares for $50 per share, and finally 1,950 shares for $44 per share.

Question 1: Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock.

Reference no: EM132587622

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