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AIM Inc. showed the following equity account balances on the December 31, 2019, balance sheet] Common shares, unlimited authorized shares, 1,000,000 shares issued and
AIM Inc. showed the following equity account balances on the December 31, 2019, balance sheet] Common shares, unlimited authorized shares, 1,000,000 shares issued and outstanding Retained earnings $7,723, 100 2,262.000 During 2020, the following selected transactions occurred: Feb 10 Kepurchased and retired 181,200 common shares at $10.00 per share, this is the first rotirenmt recorded by AIR May 15 Declared a 2:1 share split to shareholders of record on June 1, distributable June 15 Dec. 1 Declared a 10% share dividend to shareholders of record on December 10, distributable December 20. The market prices of the shares on December 1 December 10, and December 20 were $5.00 $7.50, and $6,60, respectively. 20 Distributed the share dividend declared December 1. 31 Closed the credit balance of $893, 717 In the Income Summary account. Required: a. Journalize the transactions above (assuming the retirements were the first ever recorded by AIM Inc.). The company does not use a share dividends account. (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 < 1 2 3 4 5 Record the retirement of shares,
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