Justice Inc. began 2017 with the following account balances: Common shares, 150,000 shares authorized,
75,000 issued ................. $2,175,000
Retained earnings ............ 820,000
In early 2017, Justice Inc. reported the following transactions:
Jan. 10 Repurchased 7,500 of its own shares for $31 per share.
Feb. 20 Sold 4,000 of the repurchased shares for $32 per share.
Mar. 30 Sold the remaining repurchased shares for $25 per share. Record journal entries for the above transactions.