On January 1, 2021, Hum Enterprises Inc. had 64,000 common shares, recorded at $448,000. The company follows IFRS. During the year, the following transactions occurred:

Apr. 1

Issued 4,000 common shares at $9 per share.

June 15

Declared a 5% stock dividend to shareholders of record on September 5, distributable on September 20. The shares were trading for $11 a share at this time.

Sep. 21

Announced a 1-for-2 reverse stock split. Shares were trading at $9 per share at the time.

Nov. 1

Issued 3,000 common shares at $20 per share.

Dec. 20

Repurchased 10,000 common shares for $18 per share. This was the first time Hum had repurchased its own shares.

Date Account Titles and Explanation Debit Credit Apr. 1 Cash 36000 Common Shares 36000 June 15 Stock Dividends 37400 Stock Dividends Distrib 37400 Sept. 20 Stock Dividends Distributa 37400 Common Shares 37400 Sept. 21 No Entry 0 No Entry Nov. Cash 60000 Common Shares 60000 Dec. 20 X Common Shares 1100000 Retained Earnings 70000 V M Cash 180000Your answer is partially correct. Record the last transaction (Dec. 20) assuming the price to reacquire the shares was $16 per share. Also assume that Hum has a credit balance of $3,300 in its Contributed Surplus-Reacquis Common Shares account. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for account titles and enter 0 for the amounts. Round the average per share to three decimal places, e.g. 5.271 and final answers to 0 decimal places, e.g. 5,271.) Date Account Titles and Explanation Debit Credit Dec. 20 Common Shares 150,230 Contributed Surplus - Read 20,230 x Retained Earnings Cash 160,000