36. Referring to question 35, the entry to record the sale of 8,000 shares of treasury stock that cost $12.50 per share for $13 per share includes a:

Select one:

a. debit to Retained Earnings for $104,000

b. credit to Paid-in Capital from Treasury Stock Transactions for $4,000

c. debit to Treasury Stock for $96,000

d. credit to Common Stock for $40,000

37. A dividend becomes a legal liability of the corporation on:

Select one:

a. payment date

b. record date

c. declaration date

d. distribution date