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On October 31, Company A repurchased 10,000 shares of $1 par common stock for a total of $300,000. On December 21 Company A's stock price

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On October 31, Company A repurchased 10,000 shares of $1 par common stock for a total of $300,000. On December 21 Company A's stock price skyrocketed, so Company A resold these 10,000 shares of treasury stock (the ones that the company repurchased in October 31) back to the market for $600,000. Provide the journal entry necessary to record the sales of these 10,000 shares of treasury stock on December 21. Dr Cash 300,000 Cr Cash 600,000 Cr Treasury Stock $600,000 Cr Additional Paid in Capital $300,000

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