The par value of a company's common stock is $10. Assume that all outstanding shares were sold at a price of $30. The company bought 1,000 of its shares by paying $24 for each and decided to withdraw them immediately, so it did not use the "Treasury stock" account. The daily entry to account for this transaction will have a credit to:

1. Paid-in capital from retirement of common stock
2. Retained earnings
3. Gain on retirement of common stock
4. Non of the above