Please how i write this up in a journal entry: The stockholders’ equity section of Joe’s Bistro’s balance sheet on January 1: Common stock $2 par, 2,000 share issued and outstanding – 4,000; Additional Paid-in Capital – 1,600; retained earnings – 5,400. On March 1, Joe’s Bistro reacquired 600 shares of common stock at $10 per share. Joe’s Bistro sold all of the treasury shares on November 15 for $12 per share. The entry to record the sale of November 15 would include a credit to what account and for what amount?

Answer 1

I review the tutorials but there is nothing concerning how should i calculate the question.

Answer 2

I think i got it but is the journal entry correct.

Dr Cash (600 x 12) --- 7,200
Cr Treasury Stock (100 x10)---- 6,000
Cr Paid-In Capital--------------1,200