A company repurchased 100 shares of its $1 par common stock on June 30 for $40 per share.What is the journal entry necessary to record the repurchase of stock on June 30?

a. Debit Common Stock $4,000; credit Cash $4,000.

b. Debit Common Stock $100; debit Treasury Stock $3,900; credit Cash $4,000.

c. Debit Treasury Stock $3,900; debit Additional Paid-in Capital $100; credit Cash $4,000.

d. Debit Treasury Stock $4,000; credit Cash $4,000.

e. Debit Cash $4,000; credit Treasury Stock $4,000.