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PLEASE ANWSER ASAP AND I WILL GIVE A THUMBS UP At the beginning of 20x1, the accounting records of Friends Corp. reported the following: Preferred

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At the beginning of 20x1, the accounting records of Friends Corp. reported the following: Preferred sharen, 7,000 shares outstanding, no-par Common shares, 180,900 shares outstanding, so-par Contributed capital on common share retirement Retained earnings $ 168, 700 S02,902 110,800 550,000 During the year, the company acquired and retired shares, while other shares were issued: 15 March 24,900 common sharen bought and retired at $4 por share 16 March 3,800 preferred shares bought and retired at $28.10 per share 20 May 8,900 common shares bought and retired at $1 per share 25 May 1,400 preferred shares bought and retired at $17.50 per share 30 May 10,600 common shares innued at $9.50 per share 15 Nov. 4,700 common shares bought and retired at $24 per share Required: 1. Give journal entries to record each share retirement transaction. (Round intermediate calculations to 2 decimal places and Round your final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 2 3 5 6 Record retirement of common shares at $4 per share. Note: Enter debits before credits Date 15 March Debit Credit General Journal Common shares Contributed capital on common share retirement Cash Record entry Clear entry View general journal Record retirement of preferred shares at $28.10 per share. Note: Enter debits before credits. Date 16 March Debit Credit General Journal Preferred shares Retained earnings Cash Record entry Clear entry View general journal 2 3 4 5 6 Record retirement of common shares at $1 per share. Note: Enter debits before credits. Date Debit 20 May Credit General Journal Common shares Contributed capital on common share retirement Cash

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