Blue Jean Corporation (BJC) issued a total of 1500 shares of common stock when it originally incorporated on April 5, 2015. The shares were issued in exchange for cash $7,000; equipment $8,000; and inventory worth $7,500. On November 29, 2016, BJC repurchased (and retired) 600 shares of stock, paying $18 per share. (note: BJC has not retired any shares previously or issued any more shares.) Prepare separate journal entries to record the issuance of shares, and the retirement of the shares