Question 5 4 pts On September 12, our company purchased 2,000 shares of the company's $1 par value common stock as treasury stock, paying $9 cash. What account(s) and amount(s) would we credit when we record the journal entry for this transaction? cash, $2,000 treasury stock, $2,000 treasury stock, $18,000 cash, $18,000 Question 6 4 pts On June 1 (date of declaration), the company's board of directors announces the intention to pay a $0.50 per share dividend on the 1,000,000 outstanding shares of common stock to the stockholders of record on June 15. The payment date for the cash dividend is June 30. What account and amount would we debit when we record the journal entry on the date of record? dividends, $500,000 dividends payable, $500,000 cash, $500,000 no entry required Question 7 4 pts Our company was unable to repay $2,000,000 it owed to its creditors. Our creditors agreed to accept 20,000 shares of our common stock to settle the debt. On the statement of cash flows, this is an example of: cash flows from operating activities cash flows from investing activities cash flows from financing activities non-cash investing and financing activity Question 8 4 pts On the statement of cash flows, a loss on the sale of plant assets is shown as: a deduction from net income in the cash flows from operating activities section an addition to net income in the cash flows from operating activities section a cash inflow in the cash flows from financing activities section a cash outflow in the cash flows from financing activities