Record the reacquisition of the shares

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Question - On December 31, 2020, Wildhorse Treats Limited reported 38,000 common shares issued and a balance in the Common Shares account of $234,840. On April 5, 2021, it reacquired 7,500 of these shares. This is the first time Wildhorse Treats has reacquired any of its shares. Record the reacquisition of the shares assuming the company paid $56,000 to reacquire the shares.

Reference no: EM132608982

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