Question #3 Record the following transactions in journal entry form (14 marks) 1. Company issues 20,000 shares of $2 par value common shares at a market price of $44 per share. (3 marks) 2. Assume that 4,000 common shares previously issued for $44 are later repurchased for $40 (2 marks) 3. Assume that these 4,000 shares are then subsequently resold for $43 per share (3 marks) 4. (6 marks) Instead of reselling the treasury shares, a company may retire or cancel them. Assume the company retires 4,000 treasury shares (recall that the $2 par value shares were originally issued for $44 per share and later repurchased for $40 per share)