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Andrews, Inc. paid $60,000 to buy back 12,000 shares of its $1 par value ordinary shares. These shares were sold later at a selling price

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Andrews, Inc. paid $60,000 to buy back 12,000 shares of its $1 par value ordinary shares. These shares were sold later at a selling price of $7 per share. The entry to record the sale includes a A. credit to Share Premium-Treasury for $24,000. B. credit to Retained Earnings for $24,000. C. debit to Share Premium-Treasury for $60,000. D. debit to Retained Earnings for $60,000

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