Cherokee, Inc. paid $180,000 to buy back 20,000 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:

A. credit to Retained Earnings for $20,000.

B. credit to Paid-in Capital from Treasury Stock for $20,000.

C. debit to Paid-in Capital from Treasury Stock for $180,000.

D. debit to Retained Earnings for $60,000.