Use the Following Information to Answer the Question Below

Multiple Choice

Use the following information to answer the question below. The following transactions involving Culbert Corporation occurred during the year:
The entry to record the May 3 transaction would be:

A) Treasury Stock,Preferred 20,000
Cash 20,000
B) Cash 20,000
Treasury Stock,Preferred 16,000
Paid-in Capital,Treasury Stock 4,000
C) Cash 8,000
Retained Earnings 12,000
Treasury Stock,Preferred 20,000
D) Treasury Stock,Preferred 16,000
Cash 16,000