Question: Tulip Corporation uses the cost method to account for treasury

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? After the treasury stock transaction. Tulip made the following journal entry when it reissued the treasury' shares:

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  • CreatedOctober 05, 2015
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