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Please Refer to the Following Information for Petra Sales Company

question 161

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Please refer to the following information for Petra Sales Company: Please refer to the following information for Petra Sales Company:   If Petra Sales sells 10,000 shares of treasury stock at $14 per share, which of the following would be TRUE? A) Retained earnings will go up. B) The Treasury stock account balance will increase. C) A gain on sale will be recorded. D) Paid-in capital will increase. If Petra Sales sells 10,000 shares of treasury stock at $14 per share, which of the following would be TRUE?

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