Prepare journal entry to record the sale of treasury stock


The fair value of Willow Company's common stock was $57 per share at December 31, 2013 and $63 per share at December 31, 2014. Willow acquired 7,000 shares of its own common stock at $60 per share on March 10, 2014, and sold 5,000 of these shares at $65 per share on September 25, 2014. Willow Company uses the cost method to account for treasury stock. prepare the journal entry to record the sale of the treasury stock should credit ?

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Accounting Basics: Prepare journal entry to record the sale of treasury stock
Reference No:- TGS042559

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