Question: Using the following information, the journal entry to record the March 5th transaction will be: January 1: Walgreens reacquires 2,000 shares of its $15 par

Using the following information, the journal entry to record the March 5th transaction will be: January 1: Walgreens reacquires 2,000 shares of its $15 par value Common Stock for $66 per share. March 5: Walgreens reissues 1,000 of the above-mentioned shares for $75 per share.

Cash 75,000

Treasury Stock 66,000

Gain on Sale of TS 9,000

Cash 75,000

Treasury Stock 15,000

APIC TS 60,000

Cash 75,000

Treasury Stock 66,000

APIC TS 9,000

Cash 75,000

Treasury Stock 66,000

Investment Income 9,000

Cash 75,000

Treasury Stock 75,000

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