foralways8943 foralways8943

10-01-2023
Business

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In 2014, XYZ Company has 1,000 shares of $5 par common stock outstanding. In 2015, the company purchases 200 shares of their own stock at $9 each, and later sell these 200 shares for $10 each. Using the cost method, the journal entry to record the sale of the stock would include:

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