S Retained earnings Whippet Industries Corporation has the following partlat balance sheet information avallable at November 30, 2019. Shareholders' Equity Contributed Capital Common shares 320.000 shares authorized 100.000 shares issued and outstanding 800,000 700.000 $ 1.500,000 Total shareholders equity If Whippet Industries repurchased 10,000 common shares on March 1, 2020, at a price of 55.50 per share, prepare the journal entry for the transaction Prepare the joumal entry for the transaction. (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Accounts Credit Common Shares Contributed Surplus Share Repurchase Cash Date Debit Mar 1