Rancho Corporation sold 300 treasury shares for $40 per share. The cost for the shares was $30. The entry to record the sale will include a
A) credit to Gain on Sale of Treasury Shares for $9,000.
B) credit to Share Premium-Treasury for $3,000.
C) debit to Share Premium-Ordinary for $3,000.
D) credit to Treasury Shares for $12,000.
Correct Answer:
Verified
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