Concord Corporation purchased 2,300 shares of its $10 par value common stock for $151,800 on August...

 

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Concord Corporation purchased 2,300 shares of its $10 par value common stock for $151,800 on August 1. It will hold these shares in the treasury until resold. On December 1, the corporation sold 1,380 shares of treasury stock for cash at $74 per share. Journalize the treasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Concord Corporation purchased 2,300 shares of its $10 par value common stock for $151,800 on August 1. It will hold these shares in the treasury until resold. On December 1, the corporation sold 1,380 shares of treasury stock for cash at $74 per share. Journalize the treasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Answer rating: 100% (QA)

August 1 Treasury Stock 151800 Cash 151800 December 1 Cash 101720 Treasur... View the full answer