On January 1, 2001, sunshine corporation had 40000 shares of$10 par value common stock issued and outstanding. all 40,000shares had been issued in the prior period at $20 per share. On February 1, 2001. sunshine purchased 2000 shares of treasury stock for $23 per share and later sold the treasury shares for $ 21per share on march1 , 2001.
what is the journal entry to record the purchase of treasury stock on February 1, 2001 ?  

Answer rating: 100% (QA)

Journal to record th... View the full answer