On January 1, 2014 the stockholders equity section of Newlin Corporation shows common stock $4...
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Accounting
On January 1, 2014 the stockholders equity section of Newlin Corporation shows common stock $4 par value, $1,200,00; paid in capital in excess of par $1,016,200; and retained earnings $1,214,100. During the year the following treasury stock transactions occurred. March1 Purchased 51000 shares for cash at $15 per share. July 1 sold 11,500 treasury shares for cash at $17 per share. September 1 sold 9520 treasury shares for cash at $14 per share. Journalize the treasury stock transactions.
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