Question
The entry to record Red’s purchase of 10,000 shares of its common stock at $75.00 per share includes a
A. debit to treasury stock for $750,000.
B. debit to retained earnings for $750,000.
C. credit to common stock for $50,000.
D. credit to paid-in capital from treasury stock transaction for $700,000.
A. debit to treasury stock for $750,000.
B. debit to retained earnings for $750,000.
C. credit to common stock for $50,000.
D. credit to paid-in capital from treasury stock transaction for $700,000.