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What journal entry does manley make on november

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Reference no: EM132684724

Problem 1: Manley Company repurchases 10,000 shares of its $0.10 par value common stock for $30 per share on June 30, 2020. On November 5, 2020, Manley reissues 6,000 of these shares for $35 per share. What journal entry does Manley make on November 5?

Option 1: Dr. Cash 210,000

Cr. Treasury Stock 600

Cr. Additional Paid in Capital 209,400

Option 2: Dr. Cash 210,000

Cr. Treasury Stock 180,000

Cr. Additional Paid in Capital 30,000

Option 3: Dr. Cash 210,000

Cr. Common Stock 600

Cr. Additional Paid in Capital 209,400

Option 4: Dr. Cash 210,000

Cr. Common Stock 180,000

Cr. Additional Paid in Capital 30,000

Reference no: EM132684724

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