Prior to June 1, Sandler Company had no treasury stock transactions. Then, on June 1, the company paid $5,000 to purchase 100 shares of its common stock on the open market. On July 1, the company sold 50 of these shares at $52 per share. Then, on August 1, the company sold the remaining 50 shares at $46 per share. Complete the journal entry for the sale of the treasury stock on July 1 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Prior to June 1, Sandler Company had no treasury stock transactions. Then, on June 1, the company paid $5,000 to purchase 100 shares of its common stock on the open market. On July 1, the company sold 50 of these shares at $52 per share. Then, on August 1, the company sold the remaining 50 shares at $46 per share. Complete the journal entry for the sale of the treasury stock on July 1 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 3CE: Prepare general journal entries for the following transactions of GOTE Company: (a) Received...
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