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On February 16, Candy Home Goods, Incorporated (CHG) acquired 7,000 shares of its own shares at a cost of $39 per share. On April 29, CHG sold 2,800 of the 7,000 shares of its treasury stock for $59 per share. On June 4, CHG sold the remaining 4,200 shares of treasury stock for $19 per share. What are the necessary journal entries to record these transactions? (Record debits first, then credits. Exclude explanations from any journal entries.) On February 16, Candy Home Goods, Incorporated (CHG) acquires 7,000 shares of its own shares at a cost of $39 per share. Account February 16

On February 16, Candy Home Goods, Incorporated (CHG) acquired 7,000 shares of its own shares at a cost of $39 per share. On April 29, CHG sold 2,800 of the 7,000 shares of its treasury stock for $59 per share. On June 4, CHG sold the remaining 4,200 shares of treasury stock for $19 per share. What are the necessary journal entries to record these transactions? (Record debits first, then credits. Exclude explanations from any journal entries.) On February 16, Candy Home Goods, Incorporated (CHG) acquires 7,000 shares of its own shares at a cost of $39 per share. Account February 16

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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On February 16, Candy Home Goods, Incorporated (CHG) acquired 7,000 shares of its own shares at a cost of $39 per share. On April 29, CHG sold 2,800 of the 7,000 shares of its treasury stock for $59 per share. On June 4, CHG sold the remaining 4,200 shares of treasury stock for $19 per share. What are the necessary journal entries to record these transactions? (Record debits first, then credits. Exclude explanations from any journal entries.) On February 16, Candy Home Goods, Incorporated (CHG) acquires 7,000 shares of its own shares at a cost of $39 per share. Account February 16
Transcribed Image Text:On February 16, Candy Home Goods, Incorporated (CHG) acquired 7,000 shares of its own shares at a cost of $39 per share. On April 29, CHG sold 2,800 of the 7,000 shares of its treasury stock for $59 per share. On June 4, CHG sold the remaining 4,200 shares of treasury stock for $19 per share. What are the necessary journal entries to record these transactions? (Record debits first, then credits. Exclude explanations from any journal entries.) On February 16, Candy Home Goods, Incorporated (CHG) acquires 7,000 shares of its own shares at a cost of $39 per share. Account February 16
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