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What accounts should be credited to record issuance

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Problem 1: JBL Company acquired 60,000 shares with P10 par value at P30 per share. During the current year, the entity issued 30,000 of these shares at P50 per share. The cost method is used in accounting for treasury shares. What accounts and amounts should be credited to record the issuance of the 30,000 shares?

Reference no: EM132658048

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