15.15.Treasury stock that had been purchased for $5,600 last month was reissued this month for $8,500. The journal entry to record the reissuance would include a credit to

a.Treasury Stock for $8,500

b.Paid-In Capital from Sale of Treasury Stock for $8,500

c.Paid-In Capital from Sale of Treasury Stock for $2,900

d.Paid-In Capital in Excess of ParCommon Stock for $2,900

When Wisconsin Corporation was formed on January 1, the corporate charter provided for 100,000 shares of $10 par value common stock. During its first month of operation, the corporation issued 8,500 shares of stock at a price of $16 per share. 16.The entry to record the above transaction would include a

a.credit to Common Stock for $136,000

b.credit to Paid-In Capital in Excess of ParCommon Stock for $51,000

c.debit to Common Stock for $85,000

d.debit to Cash for $85,000