Please Refer to the Following Information for Peartree Company

question 11

Multiple Choice

Please refer to the following information for Peartree Company: (Assume there are no balances in Paid-in capital from treasury stock transactions.)
If Peartree resold 800 shares of treasury stock for $15 per share, what journal entry would be required?

• A)Debit Treasury stock $16,000, debit Loss on sale $4,000 and credit Cash $20,000.
• B)Debit Treasury stock $12,000 and credit Cash $12,000.
• C)Debit Cash $12,000 and credit Treasury stock $12,000.
• D)Debit Cash $12,000, debit Retained earnings $4,000 and credit Treasury stock $16,000.

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Definitions:

Anodyspareunia

Pain occurring during anal intercourse.

Sexual Dysfunction

A disorder characterized by a difficulty experienced during any phase of the sexual response cycle, preventing an individual from experiencing satisfaction from sexual activity.

Peyronie's Disease

A health condition characterized by the development of fibrous scar tissue inside the penis, causing curved, painful erections.

Ejaculatory Inevitability

The point at which ejaculation is imminent in the male.