Linus, Inc. holds 100 shares of treasury stock purchased for $10 per share. In March,...
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Linus, Inc. holds 100 shares of treasury stock purchased for $10 per share. In March, Linus sold 50 shares at $30 per share. In December, Linus sold another 10 shares at only $5 per share. Using the cost method, the journal entry to record the transaction in December will include a (debit/credit) _________ to Paid-in Capital, Treasury Stock in the amount of _______. Multiple choice question.
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