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On July 1, Ayayai Corporation purchases 650 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. On September 1, it sells 400 shares of the treasury stock for cash at $13 per share. Journalize the two treasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date July 1 Account Titles and Explanation Debit Credit

On July 1, Ayayai Corporation purchases 650 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. On September 1, it sells 400 shares of the treasury stock for cash at $13 per share. Journalize the two treasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date July 1 Account Titles and Explanation Debit Credit

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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Attempt in Progress On July 1, Ayayai Corporation purchases 650 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. On September 1, it sells 400 shares of the treasury stock for cash at $13 per share. Journalize the two treasury stock@transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date July 1 V Sept. 1 V Account Titles and Explanation eTextbook and Media Debit Credit
Transcribed Image Text:Attempt in Progress On July 1, Ayayai Corporation purchases 650 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. On September 1, it sells 400 shares of the treasury stock for cash at $13 per share. Journalize the two treasury stock@transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date July 1 V Sept. 1 V Account Titles and Explanation eTextbook and Media Debit Credit
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