Question
1. On July 1, 2017, Company A issued 200,000 common shares at $10 per share for the first time. On May 15, 2020, the company
1. On July 1, 2017, Company A issued 200,000 common shares at $10 per share for the first time. On May 15, 2020, the company repurchased 30,000 common shares at $12 per share and cancelled these shares. On September 1, 2021, the company repurchased 20,000 common shares at $8 per share and cancelled these shares. On November 1, 2022, the company repurchased 12,000 shares at $11 per share and cancelled these shares. There were no other transactions on common shares.
Required:
Prepare journal entries on May 15, 2020, September 1, 2021, and November 1, 2022.
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