Dragonstone Corp purchased 800 shares of the company's issued common stock, paying $15 per share. To record

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Dragonstone Corp purchased 800 shares of the company's issued common stock, paying $15 per share. To record the purchase, the journal entry will be

A. Debit to Treasury Stock $12,000, credit to Cash $12,000

B. Debit to Treasury Stock $12,000, credit to Common Stock $12,000

C Debit to Common Stock $12.000, credit to Cash $12,000

D. No journal entry is needed.

Related Book For answer-question

Fundamentals of Investing

ISBN: 978-0133075359

12th edition

Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk

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Posted Date: May 17, 2022 02:31 AM

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Dragonstone Corp purchased 800 shares of the company's issued common stock, paying $15 per share. To record

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Journal entry Treasury ... View the full answer

Fundamentals of Investing

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