Gruber Law Offices Paid $57,000 to Buy Back 12,000 Shares

Gruber Law Offices paid $57,000 to buy back 12,000 shares of its $1 par value common stock.The stock was sold later at a selling price of $13 per share.The journal entry to record the sale would include a: (Do not round intermediate calculations. )

A) credit to Paid-in Capital from Treasury Stock Transactions $57,000.
B) debit to Common Stock $57,000.
C) credit to Paid-in Capital from Treasury Stock Transactions $99,000.
D) credit to Common Stock $99,000.