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.)

b. What is the balance of the treasury stock account after these transactions? BALANCE OF TREASURY:

Journal entry worksheet Record the repurchase of own stock. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 2 Record the sale of repurchased stock. Note: Enter debits before credits. Event General Journal Debit Credit 2 Record entry Clear entry View general journal