Question $30$

$2$ pts

On September $1,2017,$ Valdez Company reacquired $30,000$ shares of its $$10$ par value common stock for $$15$ per share. Valdez uses the cost method to account for treasury stock. The journal entry to record the reacquisition of the stock should debit

Treasury Stock for $$300,000$

Treasury Stock for $$450,000$

Common Stock for $$300,000$

Common Stock for $$300,000$ and Paid$-$in Capital in Excess of Par for $$150,000$