Sunny Day Inc. reported the following equity balances on December 31, 2019: Common shares, 250,000 shares issued $1,540,000 Retained earnings 321,000 Total equity $1,861,000 In 2020, Sunny Day Inc. completed the following equity related transactions: April 14 Reacquired 23,000 common shares at $8.00 per share. (This is the first time Sunny Day Inc. reacquired shares.) June 5 Reacquired 16,000 common shares at $6.50 per share. Required: Prepare the journal entries for the above transactions (8 marks)