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What account should nas credit to record the sale

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Reference no: EM132885300

Question 1: NAS Company acquired 6,000 shares of its own ordinary shares at P20 per share on February 5, 2018, and sold 3,000 of these shares at P27 per share on August 9, 2019. The fair value of NAS's ordinary shares was P24 per share at December 31, 2018, and P25 per share at December 31, 2019. The cost method is used to record treasury shares transactions. What account(s) should NAS credit in 2019 to record the sale of 3,000 shares?

Reference no: EM132885300

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