14 14 On December 31, 2020, Rebel Corporation's balance sheet reported the following. Common stock, $1 par Paid-in capital-excess of par $1,000,000 4,100,000 5,290,000 Treasury stock (21,000 shares at cost) (630,000) Retained earnings 5 points 8 01:13:40 ellook During 2021, Rebel decided to discontinue accounting for share buybacks as treasury shares. Instead, the shares will be treated as having been retired. Required: Prepare the appropriate journal entry to effect this change. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < Record the entry to reclassify treasury shares as retired shares. Note: Enter debits before credits Transaction General Journal Debit Credit 21.000 86,100 Common stock Additional paid-in capital Retained earnings Treasury stock 522,900) View general journal Record entry Clear entry