Requlred Informatlon [The following Information applies to the questions displayed below.] On January 1, 2021, American Apparel Company Issues 1,000 shares of $1 par value common stock at $17 per...

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Extracted text: Requlred Informatlon [The following Information applies to the questions displayed below.] On January 1, 2021, American Apparel Company Issues 1,000 shares of $1 par value common stock at $17 per share. On May 1, 2021, American Apparel decides to purchase 100 shares at a cost of $20 per share. Record the purchase of treasury stock. (If no entry Is requlred for a particular transactlon/event, select "No Journal Entry Requlred" In the first account fleld.) View transaction list Journal entry worksheet Record the purchase of treasury stock. Note: Enter debits before credits. Transaction General Journal Debit Credit 1