Question: On September 1 , 2 0 2 5 , Ivanhoe Company reacquired 3 0 8 0 0 shares of its $ 1 5 par value

On September 1,2025, Ivanhoe Company reacquired 30800 shares of its $15 par value common stock for $20 per share. Ivanhoe uses the cost method to account for treasury stock. The journal entry to record the reacquisition of the stock should debit
Common Stock for $462000 and Paid-in Capital in Excess of Par for $154000.
Common Stock for $462000.
Treasury Stock for $462000.
Treasury Stock for $616000.
On September 1 , 2 0 2 5 , Ivanhoe Company

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