On December 31, 2020, Wildhorse Treats Limited reported 38,000 common shares issued and a balance in the Common Shares account of $234,840. On April 5, 2021, it reacquired 7,500 of these shares. This is the first time Wildhorse Treats has reacquired any of its shares.

PRINTER VERSION BACK Attempts: 4 of 4 used (b) Your answer is partially correct. Try again. Record the reacquisition of the shares assuming the company paid $56,000 to reacquire the shares. (Credit account titles are automatically indented when the amount is entered indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round average share price to 2 decimal places, e.g. 5.27a answers to 0 decimal places, e.g. 5,25.) Date Account Titles and Explanation Debit Credit April 5 Common Shares 46,350 X X Contributed Surplus - Rear 56,000 Cash 102350 (To record reacquisition of common shares.)