Gannon Company acquired 20,000 shares of its own common stock at $20 per share on...
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Accounting
Gannon Company acquired 20,000 shares of its own common stock at $20 per share on February 5,2017, and sold 10,000 of these shares at $19 per share on August 9, 2018. The fair value of Gannon'scommon stock was $23 per share at February 5, 2017, and $25 per share at August 19, 2018.The cost method is used to record treasury stock transactions. When recording the sale of treasury stock, Gannon's journal entry will include?
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