18. If on March 31st, 2016, Jackson decides to resell the remaining treasury shares at $50 per share, the journal entry to record the transaction would include A) A credit to Treasury Stock of $1,250,000 B) A debit to Treasury Stock of $1,250,000 C) A debit to APIC- Treasury Stock of $250,000 D) A debit to retained earnings of $125,000 E) A credit to APIC-Treasury Stock of $125,000 Please use the following information to answer questions 13 through 18 The following its first year of operation Terra Corp provided the following information for the year ended December 31st,2015 Additional Information: On July 1 1st, 2015 , Terra Corp repurchased 50,000 of its common stock at the market price On September 30th Terra Corp resold 25,000 of its Treasury Shares at the current market price On October 31st,2015 Terra Corp declared a cash dividend which was paid on November 15th, 2015 (Terra Corp uses the historical cost method to account for treasury stock transactions, and all adjusting entries have been made) 18. If on March 31st, 2016, Jackson decides to resell the remaining treasury shares at $50 per share, the journal entry to record the transaction would include A) A credit to Treasury Stock of $1,250,000 B) A debit to Treasury Stock of $1,250,000 C) A debit to APIC- Treasury Stock of $250,000 D) A debit to retained earnings of $125,000 E) A credit to APIC-Treasury Stock of $125,000 Please use the following information to answer questions 13 through 18 The following its first year of operation Terra Corp provided the following information for the year ended December 31st,2015 Additional Information: On July 1 1st, 2015 , Terra Corp repurchased 50,000 of its common stock at the market price On September 30th Terra Corp resold 25,000 of its Treasury Shares at the current market price On October 31st,2015 Terra Corp declared a cash dividend which was paid on November 15th, 2015 (Terra Corp uses the historical cost method to account for treasury stock transactions, and all adjusting entries have been made)