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Bonita Industries acquired 21600 shares of its own common stock at $22 per share on February 5, 2020, and sold 10800 of these shares at
Bonita Industries acquired 21600 shares of its own common stock at $22 per share on February 5, 2020, and sold 10800 of these shares at $29 per share on August 9, 2021. The fair value of Bonita's common stock was $26 per share at December 31, 2020, and $27 per share at December 31, 2021. The cost method is used to record treasury stock transactions. What account(s) should Bonita credit in 2021 to record the sale of 10800 shares? Treasury Stock for $313200. Treasury Stock for $237600 and Paid-in Capital from Treasury Stock for $75600. Treasury Stock for $280800 and Retained Earnings for $32400. O Treasury Stock for $237600 and Retained Earnings for $75600
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