On December 12, ABC Company purchased 1,000 shares of its $2 par value common stock for $27 each. On December 23, ABC company reissued 400 shares for $15 each. Which one is the correct journal entry for reissure? O a. Debit Cash $15,000. O b. Credit Additional Paid in Capital $5,200. OC. Credit Treasury Stock $6,000. Od. Credit Treasury Stock $10,800.

On December 12, ABC Company purchased 1,000 shares of its $2 par value common stock for $27 each. On December 23, ABC company reissued 400 shares for $15 each. Which one is the correct journal entry for reissure? O a. Debit Cash $15,000. O b. Credit Additional Paid in Capital $5,200. OC. Credit Treasury Stock $6,000. Od. Credit Treasury Stock $10,800.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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