Question: Using the information provided in BE 15- 10, assume that the Chief Company retired all of the shares on July 5 (rather than holding shares

Using the information provided in BE 15- 10, assume that the Chief Company retired all of the shares on July 5 (rather than holding shares in the treasury and reissuing them). Prepare the journal entries to record the acquisition and retirement of the treasury shares. Assume additional paid- in capital— retired shares is $ 0.

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