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During Year 1, M Company recorded the following treasury stock transactions.

January 31: Purchased 1,000 shares of its $1 par value common stock for $20 per share.

March 31: Purchased 1,000 shares of its $1 par value common stock for $22 per share.

June 30: Sold 1,200 of the treasury shares for $25 per share.

November 30: Sold 800 of the treasury shares for $15 per share.

The company held no treasury stock prior to January 1, Year 1, and there were no other stock transactions during the year. M Company uses the weighted average method to account for treasury stock.

The entry to record the sale of the treasury stock on November 30 would include

		A credit to treasury stock for $17,600
		A credit to cash for $12,000
		A debit to retained earnings for $4,800
		A credit to treasury stock for $16,800