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On March 1, 2020, Derek, Inc. purchased 400 shares of its own $21 par value common stock for $24,000. On June 30, 2020, Derek sold

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On March 1, 2020, Derek, Inc. purchased 400 shares of its own $21 par value common stock for $24,000. On June 30, 2020, Derek sold 300 of these treasury shares for $21,600 cash. The journal entry to record the sale includes a Select one: 4.518,000 credit to Pald.in Capital from Treasury Stock b. 524,000 credit to Treasury Stock C. 53,600 credit to Paid-in Capital from Treasury Stock 0.53,600 credit to Gain on Sale of Treasury Stock

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