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Dante, Inc B)  Cash 252,000 Treasury Stock 252,000\begin{array} { | c | r | r | } \hline \text { Cash } & 252,000 & \\\hline \text { Treasury Stock } & & 252,000 \\\hline\end{array}

Question 46

Multiple Choice

Dante, Inc. reacquired 57,000 shares of its $1 par common stock for $19 per share on January 31. On March 1 they sold 9,000 treasury shares for $28 per share. On April 1 they sold 5,000 treasury shares for $15 per share. What is the necessary journal entry for March 1?


A)  Cash 252,000 Treasury Stock 171,000 Addl. Paid-in Capital from Treasury Stock  Transactions. 81,000\begin{array} { | l | r | r | } \hline \text { Cash } & 252,000 & \\\hline \text { Treasury Stock } & & 171,000 \\\hline \text { Addl. Paid-in Capital from Treasury Stock } & & \\\text { Transactions. } & & 81,000 \\\hline\end{array}
B)  Cash 252,000 Treasury Stock 252,000\begin{array} { | c | r | r | } \hline \text { Cash } & 252,000 & \\\hline \text { Treasury Stock } & & 252,000 \\\hline\end{array}
C)  Cash 75,000 Treasury Stock 75,000\begin{array} { | c | r | r | } \hline \text { Cash } & 75,000 & \\\hline \text { Treasury Stock } & & 75,000 \\\hline\end{array}
D)  Cash 252,000 Treasury Stock 135,000 Addl. Paid-in Capital from Treasury Stock  Transactions. 117,000\begin{array} { | c | r | r | } \hline \text { Cash } & 252,000 & \\\hline \text { Treasury Stock } & & 135,000 \\\hline \text { Addl. Paid-in Capital from Treasury Stock } & & \\\text { Transactions. } & & 117,000 \\\hline\end{array}

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