Tech-knot Inc. reacquired 15,000 shares of its common stock for $15 per share on June 1. On July…

Tech-knot Inc. reacquired 15,000 shares of its common stock for $15 per share on June 1. On July…

Tech-knot Inc. reacquired 15,000 shares of its common stock for $15 per share on June 1. On July 1 they sold 5,000 shares for $20 per share. On August 1 they sold 5,000 shares for $12 per share. Assuming no prior balance in the Additional Paid-in Capital from Treasury Stock Transactions account, what is the ending balance in this account following these transactions?

$5,000 debit balance
$5,000 credit balance
$10,000 debit balance
$10,000 credit balance

Tech-knot Inc. reacquired 15,000 shares of its common stock for $15 per share on June 1. On July…

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