Brief Exercise 15-8 Novak Inc. has outstanding 13,500 shares of $10 par value common stock....
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Brief Exercise 15-8 Novak Inc. has outstanding 13,500 shares of $10 par value common stock. On July 1, 2017, Novak reacquired 103 shares at $87 per share. On September 1, Novak reissued 61 shares at $93 per share. On November 1, Novak reissued 42 shares at $83 per share. Prepare Novak's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit SHOW LIST OF ACCOUNTS LINK TO TEXT
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