Swifty Inc. has 51,600 common shares outstanding. The shares have an average cost of $ 20 per share. On July 1, 2020, Swifty reacquired 720 shares at $ 50 per share and retired them. Assume no contributed surplus balances exist from previous share repurchases. (a) Prepare the journal entry to record this transaction if Swifty prepares financial statements in accordance with ASPE. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 1 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit