At the beginning of 2021, Rotary Cement Corp. had 14,000 shares of $5 Par value common stock outstanding that were issued at $28 a share. In June, Rotary issued an additional 4,000 shares of common stock for $30 a share. A total of 70,000 shares were authorized. On September 23, Rotary purchased 600 shares of treasury stock at $26 a share. Which of the following would be included in the purchase of treasury stock?

Multiple Choice

• Debit Treasury Stock for $3,000

• Credit Treasury Stock for $3,000

• Credit Cash for $15,600

• Credit Additional Paid-In Capital for $12,600