List of Accounts :

Accounts Payable

Accounts Receivable

Accumulated Depreciation - Automobiles Accumulated Depreciation - Buildings Accumulated OCI

Automobiles

Bonds Payable

Common Shares

Common Shares Dividends Distributable Common Shares Subscribed

Common Stock Dividends Distributable Contributed Surplus

Deficit

Dividend Receivable

Dividend Revenue

Dividends

Dividends Payable

Buildings

Cash

Cash Dividends-Preferred

Equipment

Furniture and Fixtures

FV-NI Investments

FV-OCI Investments

Gain on Appreciation of Capital Asset Gain on Disposal of Investments FV-OCI Gain on Sale of Investments

Income Summary

Inventory

Investment Income or Loss

Investment in Sinking Fund

Land

Legal Expense

Loss in Value of Investment Property Machinery

No Entry

Notes Payable

Preferred Shares

Property Dividends Payable Retained Earnings

Share SubscrubtionRereivabel

Share Subscriptions Receivable Stock Dividends

Stock Dividends Distributable Treasury Shares

Unrealized Gain or Loss

Unrealized Gain or Loss - OCI

Please stick with the list of accounts above otherwise the software system makes it wrong

Monty Inc. has 50,000 common shares outstanding. The shares have an average cost of $22 per share. On July 1,2023, Monty reacquired 790 shares at $59 per share and retired them. Assume no contributed surplus balances exist from previous share repurchases. (a) Prepare the journal entry to record this transaction if Monty prepares financial statements in accordance with ASPE. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry required, select "No Entry" for the account titles and enter 0 for the amounts.)