ABC had $20,000$ shares of treasury common stock, which it purchased for $$7$ per share. Until now, this was ABC's only treasury stock transaction. The shares were originally sold and issued at $$5$ per share. ABC uses the single$-$transaction method. ABC is now selling the treasury shares for $$5$ per share. The entry to record the resale would include a:

Multiple Choice

Credit to Treasury stock for $$100,000.$

Credit to common shares for $$100,000.$

Debit to Retained earnings for $$40,000.$

Debit to common shares for $$140,000.$