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15 February, 17:50

Five thousand shares of treasury stock of Marker, Inc., previously acquired at $14 per share, are sold at $20 per share. The entry to record this transaction will include a Group of answer choices credit to Treasury Stock for $100,000. debit to Paid-In Capital from Treasury Stock for $30,000. debit to Treasury Stock for $70,000. credit to Paid-In Capital from Treasury Stock for $30,000.

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  1. 15 February, 19:56
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    credit to Paid-In Capital from Treasury Stock for $30,000.

    Explanation:

    The Journal entry is shown below:-

    Cash Dr, $100,000

    (5,000 * $20)

    To Treasury stock $70,000

    (5000 * $14)

    To Additional paid in capital $30,000

    (5000 * $6)

    Therefore we debited the cash as liability is increasing and we credited the treasury stock and additional paid in capital as it also increasing the liability.
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