74) Bruce Corporation has the following shareholders’ equity on December 31, 2021:
Shareholders' equity
            Share capital
                   $ 10 convertible preferred shares,
                          10,000 shares authorized, 5,000 shares issued                              $ 570,000
                   Common shares,
                          200,000 shares authorized, 90,000 shares issued                             1,800,000
            Total share capital                                                                                         2,370,000
Retained earnings                                                                                                      450,000
Total shareholders’ equity                                                                                       $ 2,820,000
If 10,000 common shares were reacquired for $ 17 per share, the journal entry to record the transaction would

a) credit Contributed Surplus for $ 30,000.

b) debit Retained Earnings for $ 30,000.

c) credit Common Shares for $ 170,000.

d) debit Common Shares for $ 170,000.