Part A During its first year of operations, the A. Clem Corporation entered into the following transactions relating to shareholders' equity. The corporation was authorized to issue 109 million common shares, $1 par per share. Required: Prepare the appropriate journal entries to record each transaction. January 9 Issued 68 million common shares for $24 per share. March 11 Issued 4,800 shares in exchange for custom-made equipment. A. Clem shares have traded recently on the stock exchange at $24 per share. Part 8 A new staff accountant for the A. Clem Corporation recorded the following journal entries during the second year of operations. A. Clem retires shares that it reacquires (restores their status to that of authorized but unissued shares). Required: Prepare the journal entries that should have been recorded for each of the transactions. Comblete this auestion bv enterina vour answers in the tabs below