1. In year 3, Candy Corp acquired 6,000 shares of its own $1 par value common stock at $18 per share. In year 4, it reissued 3,000 of these shares at $25 / share. Candy uses the treasury stock method to account for its transactions. What accounts and amounts should Candy credit in Year 4 to record the reissuance of the shares?

Treasury Stock Paid in capital repurchase R/E C/S

1. 54,000 - 21,000
2. 54,000 21,000
3. 72,000 3,000
4. 51,000 21,000 3,000