Pizza Hotline Technologies Corp. reported the following equity balances on December 31, 2009: Common shares, 250,000 shares issued $1,540,000 Retained earnings 321,000 Total equity $1,861,000 In 2010, Pizza Hotline Technologies Corp. completed the following equity related transactions: April 14 Reacquired 23,000 common shares at $8.00 per share. (This is the first time Pizza Hotline Technologies Corp. reacquired shares.)

June 5 Reacquired 16,000 common shares at $6.50 per share.

Required: Prepare the journal entries for the above transactions.