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To Record the Purchase of Treasury Stock

Question 6

Multiple Choice

To record the purchase of treasury stock:


A) debit Treasury Stock-Common (par value) ; credit Cash (same) .
B) debit Treasury Stock-Common (purchase price) ; credit Cash (same) .
C) debit Treasury Stock-Common (par value) ; debit any difference to Paid-in Capital; credit Cash (purchase price) .
D) None of these answers are correct.

Correct Answer:

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