Solved: Entry to record the purchase of the stock, Finance Basics

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Entry to record the purchase of the stock

Question: Fison Corp. purchased 15,000 shares of its $2 par common stock at a cost of $12 per share on April 30, 2006. The stock was originally issued at $10 per share. The entry to record the purchase of the stock should include a debit to

a. Common Stock for $30,000.

b. Treasury Stock for $30,000.

c. Common Stock for $180,000.

d. Treasury Stock for $180,000.

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Finance Basics: Entry to record the purchase of the stock

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Finance Basics: Entry to record the purchase of the stock

Reference No:- TGS01839013

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