Acme Steel Inc. purchases 12,000 shares of its $5 par value common stock for $95,000 cash on July 1. It expects to hold the shares in the treasury until resold. Recorded journal entry for this transaction would be - * 0 Debit Common Stock $95,000 and Credit Treasury Stock $95,00 Debit Treasury Stock $95,000 and Credit Common Stock $60,00 and Cash $ 35,000 Debit Cash $95,000 and Credit Common Stock $250,000 Debit Treasury Stock $95,000 and Credit Cash $ 95,000