Long Co. issued 100,000 shares of common stock at $10 par for $1,200,000. A year later, Long purchased 12,000 shares of common stock of its own at $15 per share. Three months later, Long sold 6,000 of these shares for $19 per share. If the cost method is used to record treasury stock transactions, to record the sale of the 6,000 treasury shares, Long must credit...(SHOW YOUR WORK)

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The cost of the 12000 shares of treasury stock is 15share 12... View the full answer