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On December 2, Coley Corp. acquired 900 shares of its $2 par value common stock for $22 each. On December 20, Coley Corp.resold 500 shares

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On December 2, Coley Corp. acquired 900 shares of its $2 par value common stock for $22 each. On December 20, Coley Corp.resold 500 shares for $13 each. Which of the following is correct regarding the journal entry for the resold shares? Multiple Choice Debit Cash $11,700 Credit Treasury Stock $11,000 Credit Additional Paid-in Capital $5,500 O O Credit Treasury Stock $6,500

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