HiTech Industries has 15,000 shares of treasury cost which it purchased for $63/share. It later resold 3,300 of those shares for $82/share. The amount to be credited to Paid-in Capital-Treasury Stock is:

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The amount to be credited to Paid-in Capital-Treasury Stock is calculated by subtracting the cost of the treasury shares sold from the proceeds of the sale, excluding any amount that is used to reduce the Treasury Stock account to its cost basis. The cost of the 3,300 shares is 3,300 * $63 = $207,900. The proceeds from selling these shares at $82 each are 3,300 * $82 = $270,600. The difference, $270,600 - $207,900 = $62,700, is credited to Paid-in Capital-Treasury Stock.

HiTech Industries Has 15,000 Shares of Treasury Cost Which It