A Company Sold 10,000 Shares of Its Own $1 Par

question 3

Multiple Choice

A company sold 10,000 shares of its own $1 par value common stock for $60,000.The entry to record the sale would include a

• A) debit to treasury stock for $60,000.
• B) debit to contributed capital for $10,000.
• C) credit to common stock,$1 par value for $10,000..
• D) credit to common stock,$1 par value for $60,000.

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