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Prepare the May and November journal entries

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Question - On May 3, Zirbal Corporation purchased 7,000 shares of its own stock for $84,000 cash. On November 4, Zirbal reissued 1,600 shares of this treasury stock for $20,800. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock.

Reference no: EM132835929

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