Recording Common Stock Direct Retirement

Acer Inc. issued $150,000$ shares of $$0\mathrm{.}01$ par value common stock for $$15$ per share on January $1,$ the day of its initia stock offering.

Required

a$.$ Record entries for the following subsequent transactions assuming that the company's policy is to directly retire any reacquired shares.

Note: If a line in a journal entry isn't required for the transaction, select $"$N$/$A$"$ as the account name and leave the Dr$.$ and $Cr.$ answers blank $($zero$).$

On March $30,$ the company reacquires and retires $3,000$ shares of common stock at $$13\mathrm{.}50$ per share.

$\backslash$table$[[$Date$,$Account Name,Dr$.,$Cr$.],[$March $30,,0,0],[,,0,0],[,,0,0],[,,0,0]]$

On August $20,$ the company reacquires and retires $3,000$ shares of common stock at $$17\mathrm{.}25$ per share.

$\backslash$table$[[$Date$,$Account Name,Dr$.,$Cr$.],[$Aug$.20,,0,0],[,0,0],[,0,0],[,0,0],[,0,0],[,0,0],[$To record the re$-$purchase and retirement of stock.,,$]]$

On December $1,$ the company issues $15,000$ shares of common stock at $$17\mathrm{.}00$ per share.

$\backslash$table$[[$Date$,$Account Name,Dr$.,$Cr$.],[$Dec$.1,,0,0],[,0,0],[,0,0],[$To record issuance of stock.,,$]]$

b$.$ Determine the number of shares issued and the number of shares outstanding on the following dates $($after transactions have been recorded$).$

$\backslash$table$[[,\backslash$table$[[$Issued$],[$Shares$]],\backslash$table$[[$Outstanding$],[$Shares$]]],[1.$ March $30.,0,0],[2.$ August $20.,0,0],[3.$ December $1.,0,0]]$