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How should retained earnings be presented

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Question - On January 23, Bayshore Corporation, for the first time in its short history, purchased 200 shares of its own common stock for $40 a share. On March 31, it sold 100 of those shares for $45 a share and properly recorded $500 as additional paid-in capital. On April 15, it sold the remaining 100 shares for $30 a share.

In recording the April 15 transaction, how should retained earnings be presented (debit or credit) and how much?

Note: Write debit or credit first then followed by amount. Do not use peso sign.

Reference no: EM132549449

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