Assume a company has authorization of 20,000 shares of $25 par common stock authorized and issued. Indicate the account that should be recorded in the Description column of the Journal item (1) as the debit account for the $45,000 assuming that the company reacquired 1,000 shares of their common stock at $45 per share.

a) Cash
	B) Common Stock
	C) Paid-In Capital from Sale of Treasury Stock
	D) Treasury Stock

DATE DESCRIPTION PREF DEBIT CREDIT 45,000 45,000