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On December 20th, the equity section of Almost Summer Travel Agency included the following lines: Common Shares, 10,000 shares issued and outstanding. $ 150,000 Contributed
On December 20th, the equity section of Almost Summer Travel Agency included the following lines: Common Shares, 10,000 shares issued and outstanding. $ 150,000 Contributed Capital from Retirement of Common Shares.. 500 Note: The $500 CR balance in the Contributed Capital from Retirement of Common Shares is the result of the last retirement of shares (on September 16th). On December 20th, 1,000 shares were retired for $16.20 per share. Required: Prepare the journal entry for December 20th A- Ff TA B I U X2 x2 = 8 I :: - - Date Account Titles and Explanation PR Debit Credit Dec 20
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