MC Qu. 9 Gleason Corporation has authorized ... Gleason Corporation has authorized 40,000 shares of $10 par value common stock. The following events occurred during the year, 1. Issued 16,000 shares of the common stock for $12 per share. 2. Purchased back 2,000 shares of the common stock for $14 per share. 3. Reissued 600 of the 2,000 shares (from event 2) at a price of $15 per share. Which of the following is the correct general journal entry to record the reissue of 600 shares of treasury stock? Gleason Corporation uses the cost method of accounting for treasury stock. Multiple Choice Credit Debit 9,000 Cash Treasury Stock Paid In Capital in Excess of Cost of Treasury Stock 8,400 600 Debit 9.000 Credit Cash Treasury Stock Gain on Sale of Treasury Stock 8,400 600 Credit Debit 9,000 Cash Treasury Stock 9,000 Credit Debit 9,000 Cash Treasury Stock Pald-in Capital in Excess of Cost of Treasury Stock 6,000 3,000