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The following correctly prepared entries without


The following correctly prepared entries without explanations pertain to Corners Corporation:

2167_264-B-A-C (274) (1).png


The original sale (Entry 1) was for 200,000 shares, and the treasury stock was acquired for $6 per share (Entry 2).

Required: 

a. What was the sales price per share of the original stock issue? 

b. How many shares of stock did the corporation acquire in Entry2?

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Accounting Basics: The following correctly prepared entries without
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