Question: The CORRECT ANSWER IS B. PLS EXPLAIN Last year a company issued 100,000 shares of $5 par common stock. On 2/12, the company buys back

The CORRECT ANSWER IS B. PLS EXPLAIN Last year a company

The CORRECT ANSWER IS B. PLS EXPLAIN

Last year a company issued 100,000 shares of $5 par common stock. On 2/12, the company buys back 20,000 shares at $13. On 3/8, the company resells 2,000 shares at $16. On 4/11, the company resells additional 3,000 shares at $12. On 9/9, the company resells an additional 4,000 shares for $10. 1. Which of the following will be part of the entry on 9/9? A. Credit Treasury Stock $40,000 B. Debit Retained Earnings $9,000 C. Debit Paid-In Capital- Treasury Stock $12,000 D. Credit Cash $40,000 c 23

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