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Record the treasury stock transactions

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Question - The original sale of the $50 par value common shares of Wildhorse Company was recorded as follows:

Cash 290,700

Common Stock 255,000

Paid-in Capital in Excess of Par 35,700

Transactions:

(a) Bought 420 shares of common stock as treasury shares at $63.

(b) Sold 100 shares of treasury stock at $60.

(c) Sold 70 treasury shares at $69.

Required - Record the treasury stock transactions (given above) under the cost method.

Reference no: EM133064584

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