On January 1, Vermont Corporation had 41,800 shares of $10 par value common stock issued and outstanding. All 41,800 shares had been issued in a prior period at $21 per share. On February 1, Vermont purchased 1,030 shares of treasury stock for $28 per share and later sold the treasury shares for $21 per share on March 1.

The journal entry for the purchase of the treasury shares on February 1 would include a

a.credit to Treasury Stock for $28,840

b.credit to a gain account for $7,210

c.debit to Treasury Stock for $28,840

d.debit to a loss account for $7,210