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Nicosia Corp

Question 30

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Nicosia Corp. was organized on January 1, 2020, with 50,000 common shares authorized, par value $ 15, and immediately sold 10,000 shares for $ 20 each. Later, Nicosia bought back 1,000 of these shares at $ 23 each and cancelled them. The entry to record the purchase would be Nicosia Corp. was organized on January 1, 2020, with 50,000 common shares authorized, par value $ 15, and immediately sold 10,000 shares for $ 20 each. Later, Nicosia bought back 1,000 of these shares at $ 23 each and cancelled them. The entry to record the purchase would be

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