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  • Aug 14, 2011, 10:53 AM
    bferguson
    Treasury Stock Transactions
    Three years ago, Elias Inc Bought back 5000 shares of common stock from investors. At the time , the stock was trading at $20 per share. Now that the stock's value has increased to $28 per share, the companys management would like to reissue this stock into the marketplace.

    What is the journal entry to record this transaction?

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