The following accounts and their balances were selected from the adjusted trial balance of Point Loma Group Inc., a freight forwarder, at October 31, the end of the current fiscal year:

Common Stock, no par, $5 stated value $350,000

Paid-In Capital in Excess of Par-Preferred Stock $72,000

Paid-In Capital in Excess of Stated Value-Common Stock $840,000

Preferred 2% Stock, $100 par $600,000

Retained Earnings $2,753,000

On March 16, 2021 Point Loma Group reacquired 1,500 shares of its common stock at $30 per share. On July 8, Point Loma Group sold 1,000 shares of the reacquired shares at $32 per share. The remaining shares sold on October 1 at $24.

The journal entry on October 1 includes

debit Paid in Capital from Sale of Treasury Stock for $2,000 credit Paid in Capital from Sale of Treasury Stock for $2,000 credit Retained Earnings for $3,000 debit Paid in Capital from Sale of Treasury Stock for $3,000