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On September 1, 2025, Crane Company reacquired 20500 shares of its $15 par value common...

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Accounting

On September 1, 2025, Crane Company reacquired 20500 shares of its $15 par value common stock for $17 per share. Crane uses the cost method to account for treasury stock. The journal entry to record the reacquisition of the stock should debit

a. Treasury Stock for $348500.

b. Common Stock for $348500. c.

Treasury Stock for $307500.

d. Common Stock for $307500.

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