BELLA DONNA

Debit to Paid-In-Capital in Excess of Par

Please show all work, calculations and answer promptly. Thank you.

Bella Donna Company has 100,000 shares of $2 par common stock issued and outstanding as of January 1, 2018. The shares were originally issued for $8 per share. On February 3, 2018, Bella Donna repurchased 9,720 shares at $7 per share for the purposes of retiring them. What will the debit to Paid in capital in excess of par with February 3rd journal entry?