Acer Inc. issued $200,000$ shares of $$0\mathrm{.}01$ par value common stock for $$15$ per share on January $1,$ the day of its initial stock offering.

Required

a$.$ Record entries for the following subsequent transactions assuming that the company's policy is to directly retire any reacquired shares.

Note: If a line in a journal entry isn't required for the transaction, select $"$N$/$A$"$ as the account name and leave the Dr$.$ and Cr$.$ answers blank $($zero$).$

On March $30,$ the company reacquires and retires $4,000$ shares of common stock at $$13\mathrm{.}50$ per share.

$\backslash$table$[[$Date$,$Account Name,Dr$.,$Cr$.],[$March $30,$Common Stock,$40,],[,$Paid$-$in Capital in Excess of Par$-$Common Stock,$59,960,0],[,$Cash,$0,0],[,$Paid$-$in Capital$-$Retired Stock,$0,54,000],[,$To record the re$-$purchase and retirement of stock.,,$6,000]]$

On August $20,$ the company reacquires and retires $4,000$ shares of common stock at $$17\mathrm{.}25$ per share.

$\backslash$table$[[$Date$,$Account Name,Dr$.,$Cr$.],[$Aug$.20],[,$Paid$-$in Capital in Excess of Par$-$Common Stock,$59,960,0-],[,$Paid$-$in Capital$$Retired Stock,$6,000,0],[,,0,0],[,,0,0,-],[,,0,0],[,$To record the re$-$purchase and retirement of stock.,,$]]$

On December $1,$ the company issues $20,000$ shares of common stock at $$17\mathrm{.}00$ per share.

$\backslash$table$[[$Date$,$Account Name,Dr$.,$Cr$.],[$Dec$.1,$Cash,$340,000,0],[,$Common Stock,$0,200],[,$Paid$-$in Capital in Excess of Par$-$Common Stock,$0,339,800],[,$To record issuance of stock.,,$]]$

b$.$ Determine the number of shares issued and the number of shares outstanding on the following dates $($after transactions have been recorded$).$

$\backslash$table$[[,\backslash$table$[[$Issued$],[$Shares$]],\backslash$table$[[$Outstanding$],[$Shares$]]],[1.$ March $30.,196,000vv,196,000],[2.$ August $20.,192,000,192,000],[3.$ December $1.,212,000vv,212,000]]$