Please do not give solution in image format ? And Fast answering please and explain proper steps by Step. Amazon had 1,500,000 shares of $50 par common stock outstanding.Feb. 5 Repurchased 1,000 shares of stock at $51 per shareMarch 11 Reissued 500 shares of stock at $52 per shareShow the journal entry to record the March 11 transaction.

The journal entry is the primary reporting of the business transactions in the books of accounts.…

Answered: Amazon had 1,500,000 shares of $50 par…

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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Amazon had 1,500,000 shares of $50 par common stock outstanding. Feb. 5 Repurchased 1,000 shares of stock at $51 per share March 11 Reissued 500 shares of stock at $52 per share Show the journal entry to record the March 11 transaction.