OAK Corporation has an unlimited number of common shares authorized and 98,000 common shares Issued. At December 31, 2017, OAK had a balance in the Common Shares account of $215,600. On January 1, 2018 OAK reacquired and retired 9,300 common shares at a price of $1.95 cash per share. Prepare the journal entry for the reacquisition of shares. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry Required for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit Jan. 1 Common Shares Contributed Surplus Cash Prepare the journal entry for the reacquisition of shares assuming instead a price of $2.40 was paid and a balance of $1,400 in the Contributed Surplus account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry Required" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation lan 1 Common Shares Prepare the journalientry for the reacquisition of shares assuming instead a price of $2.40 was paid and a balance of $1,400 in the Contributed Surplus account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry Required" for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit Jan. 1 Common Shares Contributed Surplus Retained Earnings Cash Attempts: 0 of 1 used Sunt Awn Se for Later Last saved 23 minutes ago