Refer to the information above. If Vision decided to purchase 50,000 shares of its common stock to be used for future stock option plans at $9.50 per share, what journal entry would they make?

Name: Refer to the information above. If Vision decided to purchase 50,000 shares of its common stock to be used for future stock option plans at $9.50 per share, what journal entry would they make?
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Question

Quizplus · Accepted Answer

The journal entry for purchasing treasury stock is to debit Treasury Stock and credit Cash.

Refer to the Information Above