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Wafa Corporation had the following stockholders' equity accounts on January 1, 2020, Common Stock (IDI par) TD5,000,000, Additional Paiden Capital ID 500.000, and Retained Earnings

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Wafa Corporation had the following stockholders' equity accounts on January 1, 2020, Common Stock (IDI par) TD5,000,000, Additional Paiden Capital ID 500.000, and Retained Earnings D100,000. In 2020, the company had the following treasury stock transactions Mar. 1 Purchased 5,000 shares at JD 14 per share June 1 Sold 1,000 shares at JD15 per share. Sept. 1 Sold 2,000 shares at JTD 11 per share Dec. 1 Sold 1,000 shares at JP 16 per share. Wafs Corporation uses the cost method of accounting for treasury stock 1 Retained Earnings balance after the treasury stock transaction on Sept 1, 1: A. 95000 B. 100000 C. 105000 D. 106000 2. Dec. 1. In recording the transaction, credits are made to: A treasury stock JD14.000, Additional Paid in Capital - treasury stock D 2.000 B. Treasury stock JD14,000. Additional Paid in Capital JD 2,000 C. Treasury stock JD 20000 D. Treasury stock ID 22000

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