Business, 25.03.2020 00:21 NaVaThEBeAsT

Gannon Company acquired 10,000 shares of its own common stock at $20 per share on February 5, 2014, and sold 5,000 of these shares at $27 per share on August 9, 2015. The fair value of Gannon's common stock was $24 per share at December 31, 2014, and $25 per share at December 31, 2015. The cost method is used to record treasury stock transactions. What account(s) should Gannon credit in 2015 to record the sale of 5,000 shares

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Gannon Company acquired 10,000 shares of its own common stock at $20 per share on February 5, 2014,...

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