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On March 15, Forsyth Corporation acquired 300 shares of its $5 par value common stock for $25 each. On March 30, the company resold 80
On March 15, Forsyth Corporation acquired 300 shares of its $5 par value common stock for $25 each. On March 30, the company resold 80 shares for $30 each. What entry would be recorded for the resell of the shares?
Option | Account | DR | CR |
A. | Cash | 2,400 | |
Common Stock | 400 | ||
Paid-in Capital, Treasury | 2,000 | ||
B. | Cash | 2,400 | |
Treasury Stock | 2,000 | ||
Paid-in Capital, Treasury | 400 | ||
C. | Cash | 2,400 | |
Treasury Stock | 400 | ||
Paid-in Capital, Treasury | 2,000 | ||
D. | Cash | 2,400 | |
Common Stock | 2,000 | ||
Paid-in Capital, Treasury | 400 |
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