Question 48 (10 points) Bree Corp has 100,000 shares of common stock outstanding. The par value is $2.50. Later, Bree Corp buys back 10,000 shares for $8.00 per share. Later, Bree Corp sells 5,000 of the 10,000 shares for $9.00 per share. The correct journal entry is: a) Debit Cash 45,000; Credit Treasury Stock 45,000 b) Debit Cash 45,000; Credit Treasury Stock 40,000 and Credit Paid-in-Capital in Excess of Par 5,000 Oc) Debit Cash 45,000 and Credit Paid-in-Capital in Excess of Par 45,000 d) Debit Cash 45,000; Credit Paid-in Capital in Excess of Par 40,000 and Credit Treasury Stock 5,000 Question 49 (10 points) Receipt of dividends should be classified as a financing activity on the Cash Flow Statement a) True DEC hulu )))