QUESTION 9 Talboe Co, issued 90,000 shares of $9 par common stock for $1,500,000. A year later Talboe acquired 12,000 shares of its own common stock at $12 per share. Three months later Talboe sold 5,000 of these shares at $20 per share. Talboe Co. uses the cost method to record treasury stock transactions. Select which is the correct journal entry when Talboe Co. issue the stock. Debit Cash - 5810,000, Debit Dividends - $690,000; Credit Common Stock Par - $810,000, Credit Paid in Capital Excess of Par C... $690,000 Debit Cash - $1,500,000; Credit Common Stock Par - $810,000, Credit Paid in Capital Excess of Par C.S. - $690,000 O Debit Cash - $1,500,000; Credit Common Stock Par - $690,000, Credit Paid in Capital Excess of Par C.S. - $810,000 O Debit Cash - $1,500,000; Credit Common Stock Par - $1,500,000 QUESTION 10 Talboe Co, issued 90,000 shares of $9 par common stock for $1,500,000. A year later Talboe acquired 12,000 shares of its own common stock at $12 per share. Three months later Talboe sold 5,000 of these shares at $20 per share. Talboe Co. uses the cost method to record treasury stock transactions. Select which is the correct journal entry when Taiboe Co. acquired the 12,000 shares of stock. Debit Treasury Stock $108,000; Credit Cash $108,000 Debit Treasury Stock $108,000, Debit Paid in Capital Excess - CS. 36,000; Credit Cash $144,000 O Debit Treasury Stock $144,000, Credit Paid in Capital Excess.C.S. 36,000; Credit Cash $108,000 Debit Treasury Stock $144,000; Credit Cash $144,000