Recording Common Stock Direct Retirement Acer inc. issued 175.000 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 3.500 shares of common stock at $13.50 per share. 2. On August 20, the company reacquires and retires 3.500 shares of common stock at 517.25 per share. 3. On December 1, the company issues 17.500 shares of common stock at $17.00 per share. b. Determine the number of shares issued and the number of shares outstanding on the following dates (after transactions have been recorded)