5 6 7 8 9 10 11 12 + + Eileen Book Co. shows the following equity accounts at December 31, 2020: Preferred shares, $1.50 non-cumulative, 500,000 shares authorized, 2,000 shares issued and outstanding $ 90,000 Common shares, unlimited number of shares authorized, 75,000 shares issued and outstanding 956,250 Contributed surplus - common shares 26,800 Retained earnings 350,000 $1,423,050 ving are transactions that took place in 2021. PART A REQUIRED (13 marks): Prepare the journal entries to record the transactions below. If another form of entry 16 is needed, select appropriately from the drop-down box for the debit row ONLY! 17 18 Jan. 13 Purchased and retired 2,000 shares today for a price of $18 per share. 19 20 Date Account Title Debit Credit 21 Jan. 13 22 23 24 Mar 16 One fourth (25) of the subcription price from March 15th subscription sonce it 10 rond today. The remaining balance is due on January 2, 2021. Date Account Title Debit Credit 12 Mar. 16 34 Jul 2 hasued 5.000 common shares and 2,000 preferred shares for a lump sum of $120,000 cash. At the time of the sonce, the market values are $11 per share for the common shares and $41.25 per shore for the preferred shares. 35 36 Date Account Title Debit Credit 40 41 Oct. 4 Declared a 3-for-1 stock split on common shares and issued new common shares. 42 Date Account Title Debit Credit 43 Oct. 4 44 45 46 PART B REQUIRED (2 marks): Using the blue box provided below, explain when the common shares associated with 47 the subscriptions issued March 15 will be issued. Please use a complete sentence for your explanation