Elroy Corporation repurchased $3,600$ shares of its own stock for $$55$ per share. The stock has a par of $$20$ per share. A month later, Elroy resold $900$ shares of the treasury stock for $$63$ per share.

Required

a$.$ Record the two events in general journal format.

b$.$ What is the balance of the treasury stock account after these transactions?

Complete this question by entering your answers in the tabs below.

Required $A$

Record the two events in general journal format. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

Journal entry worksheet

A

B

Elroy Corporation repurchased $3,600$ shares of its own stock for $$55$ per share. Record the transaction.

Note: Enter debits before credits.