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On December 2, Coley Corp. acquired 1,200 shares of its $4 par value common stock for $23 each. On December 20, Coley Corp. reissued 800

On December 2, Coley Corp. acquired 1,200 shares of its $4 par value common stock for $23 each. On December 20, Coley Corp. reissued 800 shares for $12 each. Which of the following is correct regarding the journal entry for the reissued shares?

a. Credit Additional Paid in Capital $6,400

b. Debit Cash $14,400

c. Credit Treasury Stock $9,600

d. Credit Treasury Stock $18,400

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