Question: When using the par value method of accounting for treasury stock, Multiple choice question. Retained earnings is credited for amounts received in excess of amounts

When using the par value method of accounting for treasury stock, Multiple choice question. Retained earnings is credited for amounts received in excess of amounts paid. treasury stock is deducted from the Common stock account. contributed capital accounts are reduced for the amount paid for the treasury stock. the Treasury stock account is increased or decreased for the amount paid or received.

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