Elroy Corporation repurchased 4,000 shares of its own stock for $30 per share. The stock has a
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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
What is the balance of the Treasury Stock account after these transactions are recognized?
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Related Book For 
Survey of Accounting
ISBN: 978-1259631122
5th edition
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
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