Question: Refer to the situation described in BE10 8 Record the transaction

Refer to the situation described in BE10–8. Record the transaction if California Surf reissues the 100 shares of treasury stock at $40 per share.
In BE10–8, California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $35 per share. Later in the year, the company decides to repurchase 100 shares at a cost of $38 per share.

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  • CreatedJuly 15, 2014
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