Minho Corp. began operations on Jan. 1, 2023. Minho Corp. is authorized to issue 250,000 shares of it's 6%, $120 par value preferred stock. The company is authorized to issue 780,000 shares of the common stock with a par value of $5 per share. On January 5, 2023, the company issued 315,000 shares of common stock for cash at $12 per share.

On January 2, 2024, the company acquired 30,500 shares of its own common stock at $19 per share. On March 1, 2024, Minho Corp. sold 12,500 of these shares at $16 per share. No other treasury stock has been sold by the company in the past. To record the sale of the 12,500 treasury shares on March 1, 2024, Minho's journal entry should include a debit to

Question 30 options:

a)	Cash for $237,500.

b)	Retained Earnings for $37,500.

c)	Treasury Stock for $200,000.

d)	Paid-in Capital from Treasury Stock for $37,500.