On January 1, Vermont Corporation had 38,100 shares of $8 par value common stock issued and outstanding. All 38,100 shares had been issued in a prior period at $21 per share. On February 1, Vermont purchased 1,090 shares of treasury stock for $28 per share and later sold the treasury shares for $20 per share on March 1. The journal entry, to record the sale of the treasury shares on February 1, would include:

a. debit to a loss account for $112,500
b. credit to Treasury Stock for $90,000
c. credit to a gains account for $112,500

Label each of the following statements true, false, or uncertain. explain your choice carefully. a. workers benefit equally from the process of creative destruction. b. in the past two decades, the real wages of low-skill u. s. workers have declined relative to the real wages of high-skill workers. c. technological progress leads to a decrease in employment if, and only if, the increase in output is smaller than the increase in productivity. d. the apparent decrease in the natural rate of unemployment in the united states in the second-half of the 1990s can be explained by the fact that productivity growth was unexpectedly high during that period.