Long Co. issued 100,000 shares of $10 par ordinary shares for $1,200,000. Long acquired 8,000 shares of its own shares at $15 per share. Three months later Long sold 4,000 of these shares at $19 per share. If the cost method is used to record treasury shares transactions, to record the sale of the 4,000 treasury shares, Long should credit Treasury Shares for $40,000 and Share PremiumTreasury for $36,000. Treasury Shares for $60,000 and Share PremiumTreasury Stock for $16,000. Treasury Shares for $76,000. Treasury Shares for $60,000 and Share PremiumOrdinary for $16,000.