MRB Company purchased 1000 shares of its own outstanding $12 par value ordinary share for $16 per share and then sold 400 shares six months later for $19 a share. Prepare the journal entries for the purchase of the shares and for the sale.

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The Answer of MRB Company purchased 1000 shares of its own outstanding $12 par value ordinary share for $16 per share and then sold 400 shares six months later for $19 a share. Prepare the journal entries for the purchase of the shares and for the sale.

MRB Company Purchased 1000 Shares of Its Own Outstanding $12