On January 1, 2022, the stockholders equity section of Martinez Corporation shows common stock ($7...
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Accounting
On January 1, 2022, the stockholders equity section of Martinez Corporation shows common stock ($7 par value) $2,100,000; paid-in capital in excess of par $1,010,000; and retained earnings $1,220,000. During the year, the following treasury stock transactions occurred.
Mar. 1 Purchased 51,000 shares for cash at $15 per share.
July 1 Sold 10,000 treasury shares for cash at $17 per share.
Sept. 1 Sold 8,000 treasury shares for cash at $14 per share.
Restate the entry for September 1, assuming the treasury shares were sold at $12 per share. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
choose a transaction date
enter an account title
enter a debit amount
enter a credit amount
enter an account title
enter a debit amount
enter a credit amount
enter an account title
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