On October 1, 2017, Adoll Company acquired 1,100 shares of its $1 par value stock for $45 per share and held these shares in treasury. On March 1, 2019, Adoll resold all the treasury shares for $41 per share. Which of the following entries would be recorded when Adoll Company resells the shares of treasury stock?

Multiple Choice

• Cash	45,100
  Loss on sale of treasury stock	4,400
  Treasury Stock		49,500

• Cash	45,100
  Additional paid-in capital	4,400
  Common Stock		49,500

• Cash	45,100
  Additional paid-in capital	4,400
  Treasury Stock		49,500

• Cash	45,100
  Common Stock		1,100
  Additional paid-in capital		44,000

What is the correct entry for the sale of 1,700 shares of $25 par value preferred stock for $110,500 cash?

Multiple Choice

• Cash	110,500
  Preferred stock		42,500
  Additional paid-in capital		68,000

• Cash	110,500
  Gain on sale of preferred stock		68,000
  Preferred stock		42,500

• Cash	42,500
  Preferred stock		42,500

• Cash	110,500
  Preferred stock		110,500