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The difference between the cost, par and constructive retirement method. For the cost and par value methods, prepare journal entry examples of each using the following information: 1000 shares of $5 par stock were sold for $7. 500 shares were repurchased at a price of $6. The 500 shares were later sold for $3500. For the constructive retirement method prepare the following journal entry:

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The difference between the cost, par and constructive retirement method.For the cost and par value methods,

prepare journal entry examples of each using the following information:

  • 1000 shares of $5 par stock were sold for $7.
  • 500 shares were repurchased at a price of $6.
  • The 500 shares were later sold for $3500.

For the constructive retirement method prepare the following journal entry:

 
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