Business, 12.02.2021 03:00 brodycruce

Select the correct answer. Prontas Inc. has bought back 2,000 of its stock from its shareholders at par value of $5. How will this transaction be recorded in the journal of Prontas Inc.?
A.
Treasury Stock Account (Debit) $10,000 Common Stock Account (Credit) $10,000
B.
Cash Account (Debit) $10,000 Common Stock Account (Credit) $10,000
C.
Cash Account (Debit) $10,000 Treasury Stock Account (Credit) $10,000
D.
Treasury Stock Account (Debit) $10,000 Cash Account (Credit) $10,000

Answers: 2

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Select the correct answer. Prontas Inc. has bought back 2,000 of its stock from its shareholders at...

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