Prior to June 30,a Company Has Never Had Any Treasury

Multiple Choice

Prior to June 30,a company has never had any treasury stock transactions.A company repurchased 100 shares of its $1 par common stock on June 30 for $40 per share.On July 20,it reissued 50 of these shares at $46 per share.On August 1,it reissued 20 of the shares at $38 per share.What is the journal entry necessary to record the repurchase of stock on June 30?

A) Debit Common Stock $4,000;credit Cash $4,000.
B) Debit Common Stock $100;debit Treasury Stock $3,900;credit Cash $4,000.
C) Debit Treasury Stock $3,900;debit Paid-in Capital,Treasury Stock $100;credit Cash $4,000.
D) Debit Treasury Stock,Common $4,000;credit Cash $4,000.
E) Debit Cash $4,000;credit Treasury Stock $4,000.