Monet's Minions, Inc. reacquired 10,000 shares of its $1 par common stock for $11 per share on August 1. On October 31 they sold 9000 treasury shares for $7 per share. Assuming a zero balance in the Additional Paid-in Capital from Treasury Stock Transactions account, 

what is the necessary journal entry for the October transaction?

Answer rating: 100% (QA)

To record the October transaction of selling 9000 treasury shares for 7 per sha... View the full answer