On June 8, Cato Ltd. was incorporated and issued 31,800 common shares for $318,000. On August 19, an additional 7,950 shares were issued for $95,400. On November 2, the company paid $30,528 to repurchase 3,180 common shares and on December 7 it paid $55,120 to repurchase 4,240 common shares.

please answer part b

Calculate the average cost of the common shares on June 8, August 19, November 2, and December 7. (Round answers to 2 decimal places, e.g. 15.25.) Average Cost June 8 $ 10.00 Aug. 19 $ 10.40 Nov. 2 $ 10.40 Dec. 7 $ 10.40 e Textbook and Media List of Accounts Attempts: 2 of 3 used ) Prepare the journal entries to record the above transactions. (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 is required, select "No Entry" for the account titles and enter for the amounts. Round average cost to 2 decimal places, e.g. 15.25.) Date Account Titles and Explanation Debit Credit June 8 Cash Common Shares Aug. 19 Cash Common Shares Nov. 2 re Dec. 7