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David company issued 100,000 shares of $10 par common stock for $1,200,000. David acquired 10,000 shares of its own common stock at $15 per share. three months later David sold 5,000 of these shares at $19 per share. If the cost method is used to record treasury stock transactions, to record the sale of the 5,000 treasury shares, David should credit what amount(s)?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M941595

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