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15) The following transactions happened during 20x1: March 1 Company issued 20,000 shares of $5-par common stock for $30 per share. May 1 Repurchased 5,000
15) The following transactions happened during 20x1: March 1 Company issued 20,000 shares of $5-par common stock for $30 per share. May 1 Repurchased 5,000 of those shares for $25 per share. August 1 Resold 1,000 of the repurchased shares at $35 per share. November 1 Canceled the remaining repurchased shares. The journal entry to record the retirement of treasury stock will include . A debit of $100,000 to Cash. B A debit of $100,000 to Treasury Stock. A debit of $100,000 to Common Stock. D A debit of $100,000 to Additional Paid-in Capital - Common Stock
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