At the beginning of 20X1, the accounting records of Friends Corp. reported the following: Preferred shares, 6,200 shares outstanding, no-par Common shares, 180,200 shares outstanding, no-par Contributed capital on common share retirement Retained earnings $ 188,480 423,470 110,200 551,000 During the year, the company acquired and retired shares, while other shares were issued: 15 March 24,100 common shares bought and retired at $6 per share 16 March 3,200 preferred shares bought and retired at $33.10 per share. 20 May 8,100 common shares bought and retired at $1 per share 25 May 800 preferred shares bought and retired at $18.60 per share 30 May 10, 200 common shares issued at $12.60 per share. 15 Nov. 4,200 common shares bought and retired at $24 per share Required: 1. Give journal entries to record each share retirement transaction. (Round Intermediate calculations to 2 decimal places and Round your final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Required: 1. Give journal entries to record each share retirement transaction. (Round intermediate calculations to 2 decimal places and Round your final answers to the nearest whole dollar. 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 6 Record retirement of common shares at $6 per share. Note: Enter debits before credits Date 15 March General Journal Debit Credit 12 2. Calculate the closing balance in each account in shareholders' equity. (Round intermediate calculations to 2 decimal places. Round your final answers to the nearest whole dollar.) Preferred shares Common shares Contributed capital on share retirement Common Preferred Retained eamings