The stockholders' equity section of Twilight Time's balance sheet on January 1, 2015, appeared as follows: 
On March 1, 2015, Twilight reacquired 800 shares of common stock at $10 per share.Twilight sold 400 of the treasury shares on November 15 for $12 per share.The entry to record the sale on November 15 would show:
A) an increase in Gain on Sale of Treasury Stock, $800
B) an increase in Common Stock, $4,800
C) a decrease in Cash, $4,800
D) a decrease in Treasury Stock, $4,000
Correct Answer:
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