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Using the following information, the journal entry to record the March 5, 2019 transaction will be January 1, 2019: March 5, 2019: Atlantic Corporation

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Using the following information, the journal entry to record the March 5, 2019 transaction will be January 1, 2019: March 5, 2019: Atlantic Corporation reacquires 2,000 shares of its $15 par common stock for $66 per share. Atlantic reissues 1,000 of the above mentioned shares for $75 per share. Select one: O A. Cash Treasury Stock Investment income on treasury stock B. Cash Treasury Stock Paid in capital, treasury stock OC. Cash Treasury Stock Gain on sale of treasury stock 75,000 66,000 9,000 75,000 15,000 60,000 75,000 66,000 9,000

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