Question 1 Answer saved Answer sav Points out of 1.00 p Flag question Liabilities are obligations resulting from past transactions that require the firm to pay money, provide goods, or perform services in the future. Select one: True False Question 2 Answer saved Points out of 1.00 o p Flag question Austin Corporation purchased 300 shares of its own $60 par value common stock for $45,000. Later, these shares are sold for $48,000 cash. The journal entry to record the sale includes a: Select one: a. $ 3,000 credit to Gain on Sale of Treasury Stock o b . $ 3,000 credit to Paid-in Capital from Treasury Stock C. $28,800 credit to Paid-in Capital from Treasury Stock d. $48,000 credit to Treasury Stock O