Day Company held 10,000 shares of P10 par value as treasury reacquired in 2020 for P120,000....

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Day Company held 10,000 shares of P10 par value as treasury reacquired in 2020 for P120,000. On December 31, 2020, the entity reissued all 10,000 shares for P190,000. Under the cost method of accounting for treasury shares, what amount and account was credited for the excess of the reissue price over the cost of treasury shares? Day Company held 10,000 shares of P10 par value as treasury reacquired in 2020 for P120,000. On December 31, 2020, the entity reissued all 10,000 shares for P190,000. Under the cost method of accounting for treasury shares, what amount and account was credited for the excess of the reissue price over the cost of treasury shares?

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