Use the following information to answer the next three questions:

On March 1^st, Apple Inc. issued 1,000 shares of $3 par value stock for a selling price of $10 per share.

On May 1^st, Apple Inc. purchased 100 of the 1000 shares issued on March 1^st for $15 per share.

On June 1^st, Apple reissued 100 shares for $20 per share.

1. What journal entry did Apple record on March 1^st?

A.	Dr Cash $3k; Cr- Common Stock $3k; Dr-APIC $7k; Cr- Retained Earnings $7k.
B.	Dr Cash $10k; Cr- Common Stock $3k; Cr-APIC $7k
C.	Dr Cash $10k; Cr- Common Stock $7k; Cr-APIC $3k
D.	Cr Cash $10k; Dr- Common Stock $7k; Dr-APIC $3k

2. What journal entry did Apple record on May 1^st?

A.	Dr. Common Stock $1,500; Cr- APIC $1,500
B.	Dr Treasury Stock $1,500; Cr. Common Stock $1,500
C.	Dr.- Cash $1,500; Cr. Treasury Stock $1,500
D.	Dr Treasury Stock $1,500; Cr- Cash $1,500

3. What journal entry did Apple record on June 1^st?

A.	Dr.- Cash $2k; Cr. Treasury Stock $1,500; Cr. APIC $500
B.	Cr.- Cash $20k; Dr. Treasury Stock $15,000 Dr. APIC $5000
C.	Cr.- Cash $2k; Dr. Treasury Stock $1,500; Dr. APIC $500
D.	Dr.- Cash $20k; Cr. Treasury Stock $15,000 Cr. APIC $5000