Reference no: EM132917560
Question - Narrow Corporation began 2017 with the following account balances:
Common shares, 100,000 shares authorized, 50,000 issued $1,200,000
Retained earnings 950,000
In 2017, Arrow Corporation reported the following transactions:
Jan. 10 Reacquired 5,000 of its own shares for $20 per share.
Mar 20 Reacquired 2,000 of its own shares for $25 per share.
Mar 30 Sold 4,000 of the reacquired shares for $22 per share.
Required - Record journal entries for the above transactions.
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