Anne Teak\'s Knick Knack Co. originally issued 2,000 shares of $10 par value com

Question

Anne Teak's Knick Knack Co. originally issued 2,000 shares of $10 par value common stock for $60,000 ($30 per share). It subsequently purchases 200 shares of treasury stock for $27 per share and resells these 200 shares of treasury stock for $29 per share. In the entry to record the sale of the treasury stock, there wil be a (Choose all of the correct answers.) D Credit to Treasury Stock for $5,400 D Credit to Additional Paid-in-Capital for $400 Debit to Treasury Stock for $6,000 Credit to Common Stock for $5,400 Debit to Cash for $5,800

Explanation / Answer

Credit to Treasusy Stock for $5400 Credit to additional paid in capital for $400 Debit to cash for $5800

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