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University of Texas, Dallas *

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2301

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Finance

Date

Nov 24, 2024

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1

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On December 2, Coley Corporation acquired 1100 shares of its $4 par value common stock for $23 each. On December 20, Coley Corporation resold 700 shares for $13 each. Which of the following is correct regarding the journal entry for the resold shares? Multiple Choice O Debit Cash $14,300 Credit Treasury Stock $16100 Credit Additional Paid-in Capital $6,300 O Credit Treasury Stock $9100
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