(Solution) - On February 15 2011 Spring Hope Corporation repurchases 1 200 shares -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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On February 15, 2011, Spring Hope Corporation repurchases 1,200 shares of its outstanding common stock for $7 per share. On March 1, 2011, Spring Hope sells 300 shares of treasury stock for $11 per share. On May 18, 2011, Spring Hope sells the remaining 900 shares of its treasury stock for $4 per share.

Required:
Prepare the journal entries to record these transactions.