Birch Corporation has 50,000 common shares issued at an average price of $ 20 per share. Birch reacquires 1,000 shares for $ 19,500 and cancels them. The journal entry would include Select one: a. a $ 500 credit to Gain on Reacquisition of Common Shares. b. a $ 500 debit to Loss on Reacquisition of Common Shares ca $ 19,500 debit to cash. d. a $ 20,000 debit to Common Shares Next page 7