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Journalize the foregoing transactions

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Reference no: EM132926619

Question - Fragrance Corporation has engaged in the following selected transactions:

1. Reacquired P24,000 2,000 of its 20,000 issued ordinary shares. The P10 par ordinary shares were originally issued at an average price of P15 per share.

2. Reissued for cash 500 of the reacquired shares at P13 per share.

3. Reissued for cash 1,000 of the reacquired shares at P10 per share.

4. Cancelled the remaining treasury shares.

Required - Journalize the foregoing transactions.

Reference no: EM132926619

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