Business, 07.07.2020 18:01, preciadogabriel40

On December 2, Coley Corp. reacquired 1,000 shares of its $2 par value common stock for $27 each. On December 20, Coley Corp. reissued 400 shares for $15 each. Which of the following is correct regarding the journal entry for the reissued shares? a. Debit Cash $15,000.
b. Credit Treasury Stock $10,800.
c. Credit Paid in Capital - Treasury Stock $5,200.
d. Credit Treasury Stock $6,000.

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On December 2, Coley Corp. reacquired 1,000 shares of its $2 par value common stock for $27 each. On...