Corporation A has the following shareholders' equity on December 31, 2024: Shareholders' equity Share capital $10 convertible preferred shares, 10000 shares authorized, 4700 shares issued Common shares, 205000 shares authorized, 100000 shares issued Total share capital Retained earnings Total shareholders' equity $565000 1900000 2465000 445000 $2910000 If 10900 common shares were reacquired for $22 per share, the journal entry to record the transaction would debit Common Shares for $207100. credit Contributed Surplus-Reacquisition of Shares for $32700. credit Retained Earnings for $32700. Qcredit Common Shares for $239800.

Corporation A has the following sitareholders' equity on December 31, 2024: If 10900 common shares were reacquired for $22 per share, the journal entry to record the transaction would debit Common Shares for $207100. credit Contributed Surplus - Reacquisition of Shares for $32700. credit Retained Earnings for $32700. credit Common Shares for $239800