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Jinkins Company purchased 2,500 shares of its own $10 par common stock for $14 per...

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Accounting

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Jinkins Company purchased 2,500 shares of its own $10 par common stock for $14 per share. Two months later, Jinkins sold 300 shares of treasury stock for $11 per share. What would be the journal entry for the sale of the treasury stock assuming the Paid - in Capital from Treasury Stock Transactions has a credit balance of $2,500? C. Treasury Stock - Common Paid-in Capital from Treasury Stock Transactions Cash 5,800 2,500 3,300 D. Cash Retained Earnings 3,300 900 Treasury Stock - Common 4,200

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