Presented below is the stockholders' equity section of Penny Corporation at December 31, 2020:

Common stock, par value $20; authorized 75,000 shares;

issued and outstanding 45,000 shares $ 900,000

Paid-in capital in excess of par value 450,000

Retained earnings 500,000

$1,850,000

During 2021, the following transactions occurred relating to stockholders' equity:

Jan. 3 3,000 shares were reacquired at $28 per share.

May 7 3,000 shares were reacquired at $35 per share.

Nov. 1 1,800 shares of treasury stock were sold at $30 per share.

The journal entry for Jan. 3 using the par value method includes a: