Please Refer to the Following Information for Peartree Company

Please refer to the following information for Peartree Company: If Peartree resold 1,000 shares of treasury stock for $24 per share, what journal entry would be required?

A) Debit Treasury stock $24,000 and credit Cash $24,000.
B) Debit Treasury stock $20,000, debit Paid-in capital $2,000 and credit Cash $24,000.
C) Debit Cash $24,000 and credit Treasury stock $24,000.
D) Debit Cash $24,000, credit Treasury stock $20,000 and credit Paid-in capital $4,000.