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9. On November 7, Blue Duck Corporation bought back 700 shares of its $11 stated value common stock at $17 per share for a total of $11,900. The correct entry to record this transaction is: Debit Treasury Stock, $11,900; credit Cash, $11,900. Debit Cash, $11,900; credit Treasury Stock, $11,900.n 2 Debit Cash, $7,700; credit Treasury Stock, $7,700. None of these

9. On November 7, Blue Duck Corporation bought back 700 shares of its $11 stated value common stock at $17 per share for a total of $11,900. The correct entry to record this transaction is: Debit Treasury Stock, $11,900; credit Cash, $11,900. Debit Cash, $11,900; credit Treasury Stock, $11,900.n 2 Debit Cash, $7,700; credit Treasury Stock, $7,700. None of these

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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9. On November 7, Blue Duck Corporation bought back 700 shares of its $11 stated value common stock at $17 per share for a total of $11,900. The correct entry to record this transaction is: Debit Treasury Stock, $11,900; credit Cash, $11,900. Debit Cash, $11,900; credit Treasury Stock, $11,900.n 2 Debit Cash, $7,700; credit Treasur Stock, $7,700. None of these 10. On October 10, Howard's Corporation bought back 500 shares of its $12 stated value common stock at $15 per share for a total of $7,500. The correct entry to record this transaction is: debit Treasury Stock, $7,500; credit Cash, $7,500. debit Treasury Stock, $6,000; credit Cash, $6,000. debit Cash, $7,500; credit Treasury Stock, $7,500. None of these
Transcribed Image Text:9. On November 7, Blue Duck Corporation bought back 700 shares of its $11 stated value common stock at $17 per share for a total of $11,900. The correct entry to record this transaction is: Debit Treasury Stock, $11,900; credit Cash, $11,900. Debit Cash, $11,900; credit Treasury Stock, $11,900.n 2 Debit Cash, $7,700; credit Treasur Stock, $7,700. None of these 10. On October 10, Howard's Corporation bought back 500 shares of its $12 stated value common stock at $15 per share for a total of $7,500. The correct entry to record this transaction is: debit Treasury Stock, $7,500; credit Cash, $7,500. debit Treasury Stock, $6,000; credit Cash, $6,000. debit Cash, $7,500; credit Treasury Stock, $7,500. None of these
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