Recording Common Stock Direct Retirement Acer Inc. issued 125,000 shares of $0.01 par value common stock for $15 per share on January 1 , the day of its initial 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). 1. On March 30, the company reacquires and retires 2,500 shares of common stock at $13.50 per share. 2. On August 20, the company reacquires and retires 2,500 shares of common stock at $17.25 per share. 3. On December 1, the company issues 12,500 shares of common stock at $17.00 per share. 3. On December 1 , the company issues 12,500 shares of common stock at $17.00 per share