Rancho Corporation re-issued 100 shares of treasury stock for $40 per share. The cost of the shares was $30. The entry to record the sale will include a

A) credit to Gain on Sale of Treasury Stock for $3,000.

B) credit to Paid-in Capital from Treasury Stock for $1,000.

C) debit to Paid-in Capital in Excess of Par Value for $1,000.

D) credit to Treasury Stock for $4,000.