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Question
Treasury stock that had been purchased for $5,600 last month was reissued this month for $8,500. The journal entry for the reissuance would include a credit to
a. Treasury Stock for $8,500
b. Paid-In Capital from Sale of Treasury Stock for $8,500
c. Paid-In Capital in Excess of Par—Common Stock for $2,900
d. Paid-In Capital from Sale of Treasury Stock for $2,900
Answer
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