Recording Common Stock Direct Retirement M4 Inc. issued 60,000 shares of $0.01 par value common stock for $15 per share on January 1, 2020, 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. 1 1. On March 30, 2020, M4 Inc. reacquires and retires 1,200 shares of common stock at $13.50 per share, Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. Note: If the journal entry includes an extra line that is not required, select "N/A" as the account name and leave the Dr. and Cr. answers blank (zero) in the very last row of the journal entry. Dr. Cr. 0 0 Date Account Name March 30, 2020 Common Stock Paid-in Capital in Excess of Par-Common Stock Cash Paid-in Capital-Retired Stock 0 0 0 0 2. On August 20, 2020, M4 Inc. reacquires and retires 1,200 shares of common stock at $17.25 per share. Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. Note: If the journal entry includes an extra line that is not required, select "N/A" as the account name and leave the Dr. and Cr. answers blank (zero) in the very last row of the journal entry. Dr. Cr. Account Name Date Aug. 20, 2020 Common Stock 0 0 > 1 0 0 0 0 0 0 0 0 3. On December 1, 2020, M4 Inc. issues 6,000 shares of common stock at $17.00 per share. Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. Account Name Dr. Cr. Date Dec. 1, 2020 0 0 . + . 0 0 0 0 3. On December 1, 2020, M4 Inc. issues 6,000 shares of common stock at $17.00 per share. Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. Cr. Dr. Account Name Date Dec. 1, 2020 0 0 0 0 0 0 b. Determine the number of shares issued and the number of shares outstanding on the following dates (after transactions have been recorded). Issued Outstanding Shares Shares 1. March 30, 2020 2. August 20, 2020. 0 0 3. December 1, 2020. 0 0 0 0 Check