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Question(s) / Instruction(s):

AAA Corporation designs and produces a line of golf equipment and golf apparel.  AAA has 120,000 shares of common stock outstanding as of the beginning of 2010.  AAA has the following transactions affecting stockholders' equity in 2010.

March 1                Issues 59,000 additional shares of $1 par value common stock for $59 per share.

May 10                 Repurchases 10,500 shares of treasury stock for $82 per share.

June 1                   declares a cash dividend of $5.00 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.)

July 1                     pays the cash dividend declared on June 1.

October 21          Reissues 4,000 shares of treasury stock purchased on May 10 for $110 per share.

Required:

Record each of the above transactions in the basic accounting equation.

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