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The cost method to account for treasury stock transactions

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Tulip Corporation uses the cost method to account for treasury stock transactions. What journal entry would Tulip make to record the reacquisition of 2,000 shares of its common stock at $12 per share? Subsequently, what journal entry would Tulip make if it later reissued 500 shares of this treasury stock at $17 per share?

Reference no: EM13869558

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