A corporation sold 20 shares of $20 par value treasury stock for $40 per share.The treasury stock cost $30 per share to acquire.The entry to record the transaction would include a:
A) credit to Paid-in Capital from Treasury Stock for $600.
B) debit to Treasury Stock for $800.
C) credit to Paid-in Capital from Treasury Stock for $200.
D) debit to Common Stock for $400.
Correct Answer:
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