Business, 07.03.2020 03:18 hilzepesqtatiana

On December 2, Coley Corp. reacquired 1,400 shares of its $4 par value common stock for $20 each. On December 20, Coley Corp. reissued 1,000 shares for $11 each. Which of the following is correct regarding the journal entry for the reissued shares?

Credit Additional Paid-in Capital $7,000

Credit Treasury Stock $20,000

Debit Cash $15,400

Credit Treasury Stock $11,000

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On December 2, Coley Corp. reacquired 1,400 shares of its $4 par value common stock for $20 each. On...

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