On March 4, 2019, Orpheus Inc. purchased 2,100 shares of its own $10 par value common stock in the market for $32 per share. On August 19, 2019, the company sold 1,600 of these shares in the open market at a price of $36 per share.

The entry to record the sale of the treasury stock on August 19, 2019 is:

Multiple Choice

• Dr.	Cash	57,600
  Cr.	Treasury Stock		51,200
  Cr.	Retained Earnings		6,400

• Dr.	Cash	51,200
  Cr.	Treasury Stock		51,200

• Dr.	Cash	57,600
  Cr.	Treasury Stock		57,600

• Dr.	Cash	57,600
  Cr.	Treasury Stock		51,200
  Cr.	Additional Paid-In Capital		6,400