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    griffeyjr17's Avatar
    griffeyjr17 Posts: 2, Reputation: 1
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    #1

    Mar 7, 2007, 02:22 PM
    Journal Entry
    issued a check to a person in the amount of $240 for 25 shares of $10 par value common stock. The stock will be held as treasury stock. What is the journal entry?
    bhet's Avatar
    bhet Posts: 77, Reputation: 9
    Junior Member
    		  
    #2

    Mar 7, 2007, 05:31 PM
    Dr. Treasury stock $240
    Cr. Cash $240

    Treasury stocks are recorded at aqcuisition cost
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