Answer:
Credit Treasury Stock $20,000
Explanation:
Treasury shares are those share which is bought back by the company. Treasury stock account is the contra equity account which is deducted from the equity value.
Journal Entry for Re-issuance of treasury stock
Dr. Cash ( 1,000 x $11 ) $11,000
Dr. Add-in capital Treasury stock $9,000
Cr. Treasury Stock ( 1,000 x $20 ) $20,000
Due to debit nature of treasury stock it is credit to reduce the balance of treasury stock.
