On March 1, 2020, Riley, Inc. purchased 300 shares of its own $17 par value common stock for $24,000. On June 30, 2020, Riley sold 200 of these treasury shares for $16,800 cash. The journal entry to record the sale includes a:

Select one:

a. $800 credit to Paid-in Capital from Treasury Stock

b. $24,000 credit to Treasury Stock

c. $800 credit to Gain on Sale of Treasury Stock

d. $16,000 credit to Paid-in Capital from Treasury Stock