Question: Kline Co . issued 1 0 0 , 0 0 0 shares of $ 1 0 par value common stock for $ 1 , 2

Kline Co. issued 100,000 shares of $10 par value common stock for $1,200,000. Kline then acquired 4,000 shares of its own common stock at $15 per share. To record the purchase of the 4,000 treasury shares, Kline should debit:

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