Bison Corp

Multiple Choice

Bison Corp. purchased 25,000 shares of its $2 par common stock at a cost of $12 per share on April 30, 2012. The stock was originally issued at $10 per share. The entry to record the purchase of the stock should include a debit to:

A) Common Stock for $50,000.
B) Treasury Stock for $50,000.
C) Common Stock for $300,000.
D) Treasury Stock for $300,000.