On September 1, 2008, Zelner Company Reacquired 12,000 Shares of Its

On September 1, 2008, Zelner Company reacquired 12,000 shares of its $10 par value common stock for $15 per share. Zelner uses the cost method to account for treasury stock. The journal entry to record the reacquisition of the stock should debit

A) Treasury Stock for $120,000.
B) Common Stock for $120,000.
C) Common Stock for $120,000 and Paid-in Capital in Excess of Par for $60,000.
D) Treasury Stock for $180,000.