What Is the Correct Journal Entry for the Following Transaction

question 54

Multiple Choice

What is the correct journal entry for the following transaction? Airline Express acquired 290 shares of its own $8 par common stock for $21.

• A) Debit Treasury Stock-Common for $2,320 and credit Cash for $2,320
• B) Debit Treasury Stock-Common for $6,090 and credit Cash for $6,090
• C) Debit Cash for $2,320 and credit Treasury Stock-Common for $2,320
• D) Debit Cash for $6,090 and credit Treasury Stock-Common for $6,090

Apply knowledge of spelling rules in identifying correctly spelled words within groups.

Enhance vocabulary through exposure to correctly and incorrectly spelled words.

Understand how to calculate and interpret conditional distributions from categorical data.

Demonstrate the ability to interpret tabulated data to identify trends or patterns.