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Whispering Winds Corporation purchased 3,800 shares of its $ 10 par value common stock for $250,800 on August 1. It will hold these shares in the treasury until resold. On December 1, the corporation sold 2,280 shares of treasury stock for cash at $74 per share. Journalize the 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 Account Titles and Explanation Debit Credit

Whispering Winds Corporation purchased 3,800 shares of its $ 10 par value common stock for $250,800 on August 1. It will hold these shares in the treasury until resold. On December 1, the corporation sold 2,280 shares of treasury stock for cash at $74 per share. Journalize the 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 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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Whispering Winds Corporation purchased 3,800 shares of its $ 10 par value common stock for $250,800 on August 1. It will hold these shares in the treasury until resold. On December 1, the corporation sold 2,280 shares of treasury stock for cash at $74 per share. Journalize the 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 Account Titles and Explanation Debit Credit
Transcribed Image Text:Whispering Winds Corporation purchased 3,800 shares of its $ 10 par value common stock for $250,800 on August 1. It will hold these shares in the treasury until resold. On December 1, the corporation sold 2,280 shares of treasury stock for cash at $74 per share. Journalize the 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 Account Titles and Explanation Debit Credit
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