Business, 14.04.2020 23:23, shaylakabler333

On December 2, Coley Corp. acquired 1,700 shares of its $3 par value common stock for $21 each. On December 20, Coley Corp. resold 1,300 shares for $10 each. Which of the following is correct regarding the journal entry for the resold shares

Credit Additional Paid-in Capital $7,000

Credit Treasury Stock $20,000

Debit Cash $15,400

Credit Treasury Stock $11,000

Answers: 2

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On December 2, Coley Corp. acquired 1,700 shares of its $3 par value common stock for $21 each. On D...