At the beginning of 20X1, the accounting records of Friends Corp. reported the following Preferred shares, 8,300 shares outstanding, no-par Common shares, 182,100 shares outstanding, no-par Contributed capital on common share retirement Retained earnings $ 231,570 364,200 111,800 559,000 During the year, the company acquired and retired shares, while other shares were issued: 25,900 common shares bought and retired at $4 per share 5,100 preferred shares bought and retired at $30.70 per share 10,300 common shares bought and retired at $1 per shane 15 March 16 March 20 May 25 May 2,700 preferred shares bought and retired at $18.00 per share 30 May 11,800 common shares issued at $11.00 per share 15 Nov. 5.900 common shares bought and retired at $24 per share Required 1. Give journal entries to record each share retirement transaction. (Round intermediate calcula no entry is required for a transactionlevent, select "No journal entry required" in the first ac View transaction list Journal entry worksheet Record retirement of common shares at $24 per share. esc DO FA FS 2 3 4 6 Clear entry View general journal Record entry the closing balance in each account in shareholders' equity. (Round intermediate calculations to 2 dec Preferred shares Common shares Contributed capital on share retirement Preferred Retained earnings References Learning Objective: 14-03 related measurement and recog Difficulity: 2 Medium 20 , 2 3 5 G H