Help

Save & E

On December $2,$ Coley Corporation acquired $1,000$ shares of its $$4$ par value common stock for $$24$ each.

On December $20,$ Coley Corporation resold $600$ shares for $$11$ each. Which of the following is correct regarding the journal entry for the resold shares?

Multiple Choice

Credit Treasury Stock $$6,600$

Credit Additional Paid$-$in Capital $$4,200$

Credit Treasury Stock $$14,400$

Debit Cash $$11,000$