Use the Following Information to Answer the Question Below

Use the following information to answer the question below. The following transactions involving Culbert Corporation occurred during the year:
The entry to record the April 1 transaction would be:

A) Cash 80,000
Treasury Stock,Preferred 80,000
B) Retained Earnings 80,000
Cash 80,000
C) Paid-in Capital,Preferred 80,000
Treasury Stock,Preferred 80,000
D) Treasury Stock,Preferred 80,000
Cash 80,000