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Elroy Corporation repurchased 1, 300 shares of its own stock for $25 per share. The stock has a par of $5 per share. A month

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Elroy Corporation repurchased 1, 300 shares of its own stock for $25 per share. The stock has a par of $5 per share. A month later Elroy resold 325 shares of the treasury stock for $33 per share. Required. a. Record the two events in general journal format

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