Current Attempt in Progress On September 1, 2020, Vaughn Manufacturing reacquired 29800 shares of its $10 par value common stock for $15 per share. Vaughn uses the cost method to account for treasury stock. The journal entry to record the reacquisition of the stock should debit Common Stock for $298000 Treasury Stock for $298000. Common Stock for $298000 and Paid-in Capital in Excess of Par for $149000. Treasury Stock for $447000, Save for Later Attempts: 0 of 1 used Submit