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Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 280 shares of its common stock on May 1
Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 280 shares of its common stock on May 1 for $14,000. On July 1, it reissued 140 of these shares at $52 per share. On August 1, it reissued the remaining treasury shares at $49 per share. What is the balance in the Paid-in Capital, Treasury Stock account on August 2?
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$7,280.
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$140.
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$14,140.
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$0.
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$25,480.
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