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Five Thousand Treasury Shares of Meyer, Inc

Question 183

Multiple Choice

Five thousand treasury shares of Meyer, Inc., previously acquired at $12 per share, are sold at $18 per share.The entry to record this transaction will include a


A) credit to Treasury Shares for $90,000.
B) debit to Share Premium-Treasury for $30,000.
C) debit to Treasury Shares for $60,000.
D) credit to Share Premium-Treasury for $30,000.

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