On march 15 chief company acquired 20000 shares of its own, Ask an Expert

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On March 15, Chief Company acquired 20,000 shares of its own $2 par value common shares at a cost of $17 per share. Chief originally issued the shares at $12 per share. On July 5, Chief sold 7,000 of the shares back in the open market at a price of $20 per share. In conjunction with this transaction, how much does Chief credit Treasury stock for in their journal entry on July 5th?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91976030

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