On January 1, Van Hise Company had 100,000 shares of

$12

par-value common stock outstanding. On March 1, they purchased 2,000 of its outstanding shares for

$54

per share. On May 1, it reisstred 1,000 shares at

$66

per share.\ The journal entry to record the reissuance of the stock on May I would include:\ A) Credit Treasury Stock for

$108,000

\ B) Credit Paid-in-Capital, Treasury Stock for

$12,000

\ C) Debit Paid-In Capital, Treasury Stock for

$54,000

\ D) Credit Cash for

$66,000

39. On January 1, Van Hise Company had 100,000 shares of $12 par-value common stock outstanding. On March 1, they purchased 2,000 of its outstanding shares for $54 per share. On May 1, it reissued 1,000 shares at $66 per share. The journal entry to record the reissuance of the stock on May 1 would include: A) Credit Treasury Stock for $108,000 B) Credit Paid-in-Capital, Treasury Stock for $12,000 C) Debit Paid-In Capital, Treasury Stock for $54,000 D) Credit Cash for $66,000