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Treasury stocks are stocks that are repurchased to and when a comapny increases its treasury stocks, it is recorded under the Asset section of the balance sheet by debiting the treasury stocks account. True O False If Acme Corporation has 2,500 shares of 10%, $80 par value preferred stock outstanding on December 31, 2019. On December 31, 2019, the company declared a $75.000 cash dividend. The dividend paid to the common stockholders is $35000 if the preferred stock is non-cumulative, and the company did not pay a dividend in the previous year. * True O False