Pina Colada Limited has $55,600$ common shares outstanding, with an average issue price per share of $$8.$ On August $1,2023,$ the company reacquired and cancelled $650$ shares at $$44$ per share. There was contributed surplus of $$0\mathrm{.}25$ per share at the time of the reacquisition $($total $$13,900),$ which arose from net excess of proceeds over cost on a previous cancellation of common shares.

$($a$)$ Prepare the journal entry to record this transaction if Pina Colada prepares nancial statements in accordance with ASPE. $($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 $0$ for the amounts.$)$