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

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

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


D)
$\begin{array}{lc}\text { Cash } & 3,480 \\\text { Treasury Stock-Common } &&3000 \\\text { Retained Earnings } &&480\end{array}$