Elroy Corporation repurchased 4,000 shares of its own stock for $30 per share. The stock has a par of $10 per share. A month later, Elroy resold 900 shares of the treasury stock for $32 per share. 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.) Answer is not complete. No Event General Journal Debit Credit Treasury stock 120,000 Cash 120,000 Cash 28,880 Treasury stock 27,000 Paid-in capital in excess of cost, TS 1,880 2