Last year a company issued 100,000 shares of $5 par commoockon 2/12, the company buys back 20,000 shares at $13. On 3/8, the com resells 2,000 shares at $16. On 4/11, the company resels adhares for shares at $12. On 9/9, the company resells an additional 4,000 share $10. additional 3,000 1. Which of the following will be part of the entry ons A. Credit Treasury Stock $40,000 B. Debit Retained Earnings $9,000 C. Debit Paid-In Capital-Treasury Stock $12,000 D. Credit Cash $40,000 Last year a company issued 100,000 shares of $5 par common stock. On 2/12, the company buys back 20,000 shares at $13. On 3/8, the company resells 2,000 shares at $16. On 4/11, the company resells additional 3,000 shares at $12. On 9/9, the company resells an additional 4,000 shares for $10. 2. Which of the following is correct regarding treasury stock? A. Reselling treasury stock above acquisition cost results in a recorded gain B. Treasury stock is an asset account representing the company's ownership of itself C. Paid-In Capital - Treasury Stock may never have a debit balance D. Purchasing treasury stock reduces the overall amount of shares issued and retiring treasury stock reduces the overall amount of shares authorized 24