Beta, Inc., had the following shareholders' equity as of December 31, 2019: Common shares, 1,000,000 shares authorized, 200,000 shares issued and outstanding $2,400,000 Retained earnings $1,600,000 The following transactions related to the company's stock took place during 2020: Aug. 1 Purchased and retired 6,000 shares at $13 per share. Dec. 3 Purchased and retired 5,000 shares at $11 per share. Prepare the journal entries to record the transactions