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Snowhite65
Dec 3, 2008, 07:37 PM
I do not understand how to journalize the following transaction.

Purchased 1,000 shares of common stock for the treasury at a cost of $6,000.

pready
Dec 5, 2008, 04:57 AM
Debit Treasury Stock for 6,000
Credit Cash for 6,000
(1,000 shares @ $6.00 per share)