The balance in Treasury Stock on January 1, 2008, and December 31, 2008, is, respectively, $55,500 and $81,700. During the year, $58,500 of treasury stock was purchased. During the year, treasury stock was sold for $1,300 over its cost. The proceeds from the sale of treasury stock amounted to:

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The Answer of The balance in Treasury Stock on January 1, 2008, and December 31, 2008, is, respectively, $55,500 and $81,700. During the year, $58,500 of treasury stock was purchased. During the year, treasury stock was sold for $1,300 over its cost. The proceeds from the sale of treasury stock amounted to:

The Balance in Treasury Stock on January 1, 2008, and December