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On Novenber 12, Boston, LTD. acquired 1,500 shares of its $4 par value common stock for $25 each. On January 10, Boston LTD. resold 1,100

On Novenber 12, Boston, LTD. acquired 1,500 shares of its $4 par value common stock for $25 each. On January 10, Boston LTD. resold 1,100 shares for $13 each. Which of the following is correct regarding the journal entry for the resold shares?

Multiple Choice

Credit Treasury Stock $14,300

Credit Additional Paidin Capital $9,900

Debit Cash $19,500

Credit Treasury Stock $27,500

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