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.?
Treasury Stock Account (Debit) $10,000 Cash Account (Credit) $10,000
Treasury Stock Account (Debit) $10,000 Common Stock Account (Credit) $10,000
Cash Account (Debit) $10,000 Treasury Stock Account (Credit) $10,000
Cash Account (Debit) $10,000 Common Stock Account (Credit) $10,000
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Prontas Inc. has bought back 2,000 of its stock from its shareholders at par value of $5.How will th...
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