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Prepare the may and november journal entries

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Question - On May 3, Zirbal Corporation purchased 8,000 shares of its own stock for $72,000 cash. On November 4, Zirbal reissued 1,150 shares of this treasury stock for $11,500. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock.

Reference no: EM133081467

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