The entry to record the sale of 7,000 shares of treasury stock that cost $11 per share for $13 per share includes a:
A) credit to Paid-in Capital in Excess of Par Value-Common for $98,000.
B) debit to debit to Retained Earnings for $98,000.
C) credit to Paid-in Capital from Treasury Stock transactions for $14,000.
D) debit to Treasury stock for $24,000.
Correct Answer:
Verified
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A)asset account.
B)liability account.
C)contra-asset
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