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

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 $37 per shate. Required a. Record the fwo events in general journal format b. What is the balance of the treasury stock account after these transactions