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Andrews, Inc. paid $45,000 to buy back 9,000 shares of its $1 par value common stock. This stock was sold later at a selling price

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Andrews, Inc. paid $45,000 to buy back 9,000 shares of its $1 par value common stock. This stock was sold later at a selling price of $6 per share. The entry to record the sale includes a credit to Paid-in Capital from Treasury Stock for $9,000. credit to Retained Earnings for $9,000. debit to Paid-in Capital from Treasury Stock for $45,000. debit to Retained Earnings for $45,000

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