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Which one is the correct journal entry for re-issue

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Reference no: EM132822927

Problem 1: On December 12, ABC company purchased 1000 shares of it's $2 par value common stock for $27 each. On December 23, ABC company re-issued 400 shares for $15 each. Which one is the correct journal entry for re-issue?

A) debit cash 15,000
B) credit treasury stock 6000
C) credit treasury stock 10,800

Reference no: EM132822927

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