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What is the journal entry to record the purchase of the 1000 shares of treasury stock for 40000 cash? A. Dr. Cash 40000; Cr. Treasury

What is the journal entry to record the purchase of the 1000 shares of treasury stock for 40000 cash?

A. Dr. Cash 40000; Cr. Treasury Stock Common 40000.

B. Dr. Treasury Stock Common 40000.Cr. Cash 40000

C. Dr. Cash 40000; Cr. Common Stock 40000.

D. Dr. Common Stock 40000; Cr. Cash 40000

E. None of the above

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