Concord Corporation has the following shareholders' equity on December 31, 2021: $573000 Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 4600 shares issued Common shares, 200,000 shares authorized, 70000 shares issued Total share capital Retained earnings Total shareholders' equity 1750000 2323000 454000 $2777000 If 9800 common shares were reacquired for $26 per share, the journal entry to record the transaction would O debit Common Shares for $245000. O credit Contributed Surplus-Reacquisition of Shares for $9800. O credit Retained Earnings for $9800. O credit Common Shares for $254800