A corporation originally issued $5 par value stock for $6 per share. Which of the following would be included in the entry to record the reacquisition of 200 shares for $8 per share?
A) Treasury Stock-Common is debited for $3,300.
B) Treasury Stock-Common is credited for $45.
C) Retained Earnings is debited for $1,650.
D) Treasury stock would be debited for $1,600.
Answer : D) Treasury stock would be debited for $1,600.
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