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Salon Company originally issued 4,000 shares of $10 par value common stock for $120,000 ($30 per share). Salon subsequently purchases 400 shares of treasury stock

Salon Company originally issued 4,000 shares of $10 par value common stock for $120,000 ($30 per share). Salon subsequently purchases 400 shares of treasury stock for $27 per share and resells the 400 shares of treasury stock for $29 per share. In the entry to record the sale of the treasury stock, there will be a

credit to Common Stock for $10,800.

credit to Treasury Stock for $4,000.

debit to Paid-In Capital in Excess of Par of $12,000.

credit to Paid-In Capital from Treasury Stock for $800.

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