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These shares were acquired for 10 per share and sold for 3

The account Paid-In Capital from Treasury Stock Transactions has a credit balance of $2,000. The corporation resells 450 shares of its treasury stock. These shares were acquired for $10 per share and sold for $3 per share. The entry to record the sale of treasury stock includes a debit to Retained Earnings of $3,150.

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Accounting Basics: These shares were acquired for 10 per share and sold for 3

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