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oliviakgobbell
oliviakgobbell
10.05.2021 • 
Business

On January 1st, Vermont Corporation had 40,000 shares of $10 par value common stock issued and outstanding. All 40,000 shares had been issued in a prior period at $20 per share. On February 1st, Vermont purchased 3,750 shares of treasury stock for $24 per share and later sold the treasury shares for $21 per share on March 1st. The journal entry to record the purchase of the treasury shares on February 1st would include a: Group of answer choices debit to a loss account for $112,500. debit to Treasury Stock for $90,000. credit to a gain account for $112,500. credit to Treasury Stock for $90,000

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