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Home Q & A Board Other Fields Homework Help Business Accounting
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bravata bravata
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7 years ago
Anderson Industries purchased 1,000 shares of the company's issued common stock, paying $10 per share. To record the purchase, the journal entry will be:
A) Debit to Common Stock $10,000, credit to Cash $10,000
B) Debit to Treasury Stock $10,000, credit to Common Stock $10,000
C) Debit to Treasury Stock $10,000, credit to Cash $10,000
D) No journal entry is needed.
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Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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antonio_johnantonio_john
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Massachusetts Institute of Technology
-- Accounting

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bravata Author
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6 years ago
This is a life saver
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