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On May 1, Laney Company purchases 4,000 shares of its own $1 par value stock for $24,000. Which statement is correct? Group of answer choices

On May 1, Laney Company purchases 4,000 shares of its own $1 par value stock for $24,000. Which statement is correct? Group of answer choices (thank you)

a/ cash will be debited for $4,000

b/ Additional paid-in capital (APIC) treasury stock will be credited for $20,000

c/ cash will be credited for $20,000

d/ treasury stock will be debited for $24,000

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