Please Refer to the Following Information for Peartree Company

Please refer to the following information for Peartree Company: If Peartree purchases an additional 1,000 shares of treasury stock at $18 per share, what journal entry will be required?

A) Debit Treasury stock $18,000 and credit Retained earnings $18,000.
B) Debit Treasury stock $20,000, credit Loss on sale $2,000 and credit Cash $18,000.
C) Debit Treasury stock $18,000 and credit Cash $18,000.
D) Debit Cash $18,000 and credit Treasury stock $18,000.