On February 22, Brett Corporation reacquired 200 shares of its $5 par value common stock for $25 each. On March 15, the company reissued 70 shares for $30 each. What is true of the journal entry for reissuing their shares?
A) Credit Cash $1,750.
B) Credit Additional Paid in Capital $350.
C) Debit Treasury Stock $1,750.
D) Credit Treasury Stock $2,100.
Correct Answer:
Verified
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