9. Sims Company originally issued 2,000 shares of $10 par value common stock for $60,000($30 per share). Sims subsequently purchases 200 shares of treasury stock for $27 per share and resells the 200 shares of treasury stock for $29 per share. In the entry to record the sale of the treasury stock, there will be a a. credit to Common Stock for $5,400. b. credit to Treasury Stock for $2,000. c. debit to Paid-In Capital in Excess of Par Value of $6,000. d. credit to Paid-In Capital from Treasury Stock for $400. 2. Paltel Corp. issued 10,000 shares of its $5 par value common stock having a market value of $25 per share, and 15,000 shares of its $15 par value preferred stock having a market value of $20 per share for a lump sum of $480,000. How much of the proceeds would be allocated to the common stock? a. $50,000 (b) $218,182 c. $250,000 d. $255,000