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On December 30th, management completed negotiations with one of their suppliers to cover the $28,000...

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Accounting

On December 30th, management completed negotiations with one of their suppliers to cover the $28,000 account with shares of stock. They issued the supplier 7,200 shares of the treasury stock they originally purchased on November 15th for $8/share.

make appropriate journal entries for recording the payment on A?P with treasury stock.

Make appropriate journal entry for recording the tax effect of the payment on account.

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