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  • 11-03-2024
  • Business
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If contributed surplus begins with a zero balance, what will the journal entry look like if shares are repurchased and the MP/share is higher?
a. Debit Contributed Surplus, Credit Cash
b. Debit Retained Earnings, Credit Common Shares
c. Debit Common Shares, Credit Cash
d. Debit Cash, Credit Retained Earnings

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