A Company Purchases 400 Shares of Its $50 Par Value $\begin{array}{l}\text { Cash }&3,480\\\text { Treasury Stock-Common } && 3,300 \\\text { Paid-in Capital, Treasury Stock } && 180\end{array}$

Multiple Choice

A company purchases 400 shares of its $50 par value common stock at $55 per share.It then reissues 60 shares at $58 per share.The entry upon reissue of the stock would be:

A)
$\begin{array}{l}\text { Cash }&3,480\\\text { Treasury Stock-Common } && 3,300 \\\text { Paid-in Capital, Treasury Stock } && 180\end{array}$
B)
$\begin{array}{l}\text { Cash } &3,480\\\text { Treasury Stock-Common }&&3,480\end{array}$

C)
$\begin{array}{l}\text { Cash } &3,480\\\text { Paid-in Capital, Treasury Stock }&&3,480\end{array}$

D)
$\begin{array}{l}\text { Cash } &3,480\\\text { Treasury Stock-Common } &&3,000\\\text { Retained Earnings }&&480\end{array}$