On January 2, 2020, Zapp Company has the following:

Common Stock ($5 par value, 20,000 shares issued) $100,000

Paid-in capital in excess of par-C.S. 50,000

Paid-in capital from treasury stock 1,500

Retained Earnings 200,000

Treasury stock (1000 shares at cost) 5,000

On February 1, 2020, Zapp Company reissues 600 shares of treasury stock for

$2 per share. Record the correct entry on February 1 assuming the cost method was used to account for the treasury stock.