Holanna Company reported the following balances related to common stock as of
December 31, 2010:
Common stock, $1 par, 200,000 shares issued and outstanding . . . . . . . . . . $ 200,000
Paid-in capital in excess of par . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . 2,400,000
The company purchased and immediately retired 18,000 shares at $19 on August 1, 2011, and 32,000 shares at $9 on December 31, 2011. Make the entries to record the acquisition and retirement of the common stock. (Assume all shares were originally sold at the same price.)