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26-05-2023
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In 2021, Southwestern Corporation completed the treasury stock transactions listed below. February 2: Reacquired 60,000 shares at $11.00. March 17: Sold 10,000 shares at $13.50. May 17: Sold 15,000 shares at $7.50. Southwestern had issued 100,000 shares of its $1 par common stock for $10 several months ago. Required: Prepare the journal entries to record the above transactions, using the cost method.

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