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Accounting

Question 7
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Sanders Corporation purchased 300 shares of its own $20 par value common stock for $15,000. Later, these shares are sold for $16,000 cash.
The journal entry to record the sale includes a:
Select one:
A. $9,600 credit to Paid-in Capital from Treasury Stock
B. $1,000 credit to Gain on Sale of Treasury Stock
C. $1,000 credit to Paid-in Capital from Treasury Stock
D. $16,000 credit to Treasury Stock
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