Marigold Corp. issued 100000 shares of $10 par common stock for $1260000. A year later Marigold acquired 15500 shares of its own common stock at $16 per share. Three months later Marigold sold 7900 of these shares at $20 per share. If the cost method is used to record treasury stock transactions, to record the sale of the 7900 treasury shares, Marigold should credit

Treasury Stock for $126400 and Paid-in Capital in Excess of Par for $31600.

Treasury Stock for $79000 and Paid-in Capital from Treasury Stock for $79000.

Treasury Stock for $126400 and Paid-in Capital from Treasury Stock for $31600.

Treasury Stock for $158000.