7. On January 3, Pippin Corporation purchased 2,000 shares of the company's $9 par value common stock as treasury stock, paying cash of $7 per share. On January 30, Pippin sold 1,400 shares of the treasury stock for cash of $16 per share. Journalize these transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the purchase of the treasury stock. Date Accounts and Explanation Debit Credit Jan. 3 ournalize the sale of treasury stock shares. Date Accounts and Explanation Debit Credit Jan. 30 A company invested $45,000 in Yale Co. stock. The investment represented 5% of the voting stock of Yale Co. If the Yale Co. stock investment paid dividends, what account would be credited? O A. Interest Revenue O B. Long-term Investments-Available-for-Sale O C. Cash O D. Dividend Revenue Leather Shop earned net income of $65,000 after deducting depreciation of $4,000 and all other expenses. Current assets decreased by $3,000, and current liabilities increased by $7,000. How much was Leather Shop's cash provided by operating activities (indirect method)? OA. $51,000 O B. $57,000 O c. $79,000 O D. $73,000