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On May 21, Costanza Corp repurchased 1,000 shares of its own shares for $15 per share. When it records the transaction on May 21, Costanza
On May 21, Costanza Corp repurchased 1,000 shares of its own shares for $15 per share. When it records the transaction on May 21, Costanza Corp will:
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A) decrease Retained Earnings $15,000 and decrease Cash $15,000
B) decrease Common Stock $15,000 and decrease Cash $15,000.
C) increase Additional Paid-in Capital $15,000 and increase Cash $15,000
D) increase Treasury Stock $15,000 and decrease Cash $15,000.
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