Exercise 21.11 Purchasing treasury stock. LO 21-10 On March 31, 2019. Elephant Corporation had outstanding 100,000 shares of 7 percent preferred stock with a par value of $10. The stock was originally issued for $13.50 per share. On that date, the corporation repurchased 15,000 shares of the preferred stock. paying cash of $13.30 per share for the stock. Give the general journal entry to record repurchase of the treasury stock. ences View transaction list Journal entry worksheet 1