Monteverde Company Repurchased 1,000 Shares of Its $5 Par Value

question 154

Multiple Choice

Monteverde Company repurchased 1,000 shares of its $5 par value common stock at $10 per share. The entry to record this transaction includes a:

• A)debit to Common Stock for $5,000.
• B)debit to Treasury Stock for $5,000.
• C)debit to Common Stock for $10,000.
• D)debit to Treasury Stock for $10,000.

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