On January 1, 20xx, Swenson corporation had 40,000 shares of $10 par value common stock issues and outstanding. All 40,000 shares had been issued in a prior period at $20.00 per share. On February 1, 20xx, Swenson purchased 4,000 shares of treasury stock for $24 per share and later sold the treasury shares for $21 per share on March 1, 20xx. The journal entry to record the purchase of the treasury shares on February 1, 20xx would include a

Save Submit Test for Grading Question 66 of 74 a January , os, Sweson Corporation had go,000 shares of Sto par valae common stock issued and outstanding, All 40,000 shares had been issued in a prior period at $2o.oo per share 0a Femuary i, os, Swenson purchased 4,000 shares of treasury stock for $24 per share and later sold the treasury shares for $2a per share on March 1, oxx. The journal entr to ecoed the purchase of the treasury shares on February 1, %, would include a b.debit to a loss account for $120.00 c. credit to a gain account for s 120m O d debit to Treasury Stock for $96,000