Question: ? _ _ _ 1 0 . A c o m p a n y s o l d 2 0 0 s h a

?___10.Acompanysold200sharesofcommonstockwithaparvaleof$5atapriceof$12pershare.Whatistheeffectontheaccountsofthistransaction?
a.
Increasecash$2,400;Increaseretainedearnings$2,400
b.
Increasecash$1,000;Increasecommonstock$1,000
c.
Increasecash$2,400;Increasecommonstock$1,000andIncreasePaidinCapital$1,400
d.
Increasecash$2,400;Increasecommonstock$1,400andIncreasePaidinCapital$1,000

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