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MESSAGE MY İNSTRUCTOR FULL SCREEN PRINTER VERSION BACK NEXT Brief Exercise 15-8 Martinez Inc. has outstanding 14,300 shares of $10 par value common stock. On July 1, 2017, Martinez reacquired 102 sh artinez reissued 62 shares at $92 per share. On November 1, Martinez reissued 40 shares ares at $86 per share. On Prepare Martinezs journal entries to record these transactions using the cost method. (Credit account titles are automatically per share. ot indent manually. If no entry is required, select No Entry for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit SUSMIT ANSWER Question Attempts: 0 of 3 used SAVE FOR LATER
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Answer #1

Answer:

Date

Description

Debit $

Credit $

7/1/2017

Treasury Stock (102 X $86)

8772

Cash

8772

9/1/2017

Cash (62 X $92)

5704

Treasury Stock (62 X $86)

5332

Paid-in Capital from Treasury Stock

372

11/1/2017

Cash (40 X $84)

3360

Paid-in Capital from Treasury Stock

80

Treasury Stock (40 X $86)

3440

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