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Grouper corporation has outstanding 20000 shares of 5 par

Question - Grouper Corporation has outstanding 20,000 shares of $5 par value common stock. On August 1, 2017, Grouper reacquired 220 shares at $86 per share. On November 1, Grouper reissued the 220 shares at $77 per share. Grouper had no previous treasury stock transactions.

Prepare Grouper's journal entries to record these transactions using the cost method.

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Accounting Basics: Grouper corporation has outstanding 20000 shares of 5 par

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Accounting Basics: Grouper corporation has outstanding 20000 shares of 5 par

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