On December 1, Watson Enterprises signed a $24,000, 60-day, 4% note payable as replacement of an account payable with Erikson Company. What is the journal entry that should be recorded upon signing the note?

Options:

Debit Accounts Receivable $24,000; credit Notes Receivable $24,000

Debit Accounts Payable $24,000; credit Notes Payable $24,000

Debit Accounts Payable $24,160; credit Notes Payable $24,160

Debit Notes Payable $24,000; debit Interest Expense $160; credit Accounts Payable $24,160

Debit Notes Payable $24,000; debit Interest Expense $160; credit Cash $24,160

The following data has been collected about Keller Company's stockholders' equity accounts:

Common stock $10 par value 20,000 shares authorized and 10,000 shares issued, 9,000 shares outstanding	$100,000
Paid-in capital in excess of par value, common stock	50,000
Retained earnings	25,000
Treasury stock	11,500

Assuming the treasury shares were all purchased at the same price, the number of shares of treasury stock is:

Options:

	1,10.
	1,000.
	575.
	11,000.
	21,000.

Prior to June 30, a company has never had any treasury stock transactions. A company repurchased 100 shares of its common stock on June 30 for $40 per share. On July 20, it reissued 50 of these shares at $46 per share. On August 1, it reissued 20 of the shares at $38 per share. What is the balance in the Treasury Stock account on August 2?

Options:

	$5,050.
	$2,600.
	$100.
	$1,200.
	$0.