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Sports Company issued 100,000 shares of $10

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January 3rd, 2018

Sports Company issued 100,000 shares of $10 par common stock for $1,200,000. A year later Sports acquired 16,000 shares of its own common stock at $15 per share. Three months later Sports sold 8,000 of these shares at $19 per share. If the cost method is used to record treasury stock transactions, what are the entries related to the treasury stock transactions?

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