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Vaughn, Inc. paid $119000 to buy back 9900 shares of its $1 par value common stock. This stock was sold later at a selling price
Vaughn, Inc. paid $119000 to buy back 9900 shares of its $1 par value common stock. This stock was sold later at a selling price of $8 per share. The entry to record the sale includes a O credit to Retained Earnings for $9900 O debit to Paid-in Capital from Treasury Stock for $119000 O credit to Paid-in Capital from Treasury Stock for $9900 O debit to Retained Earnings for $39800
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