The following is a selection of journal entries related to share transactions. 78,000 (a) Cash Common Shares To record issuance of 26,000 common shares at $3.00 per share. 78,000 6,000 6,000 (b) Common Shares Cash Repurchased and retired 3,000 common shares at $2.00. Average cost of shares is $3.00. (c) 12,600 12,600 Cash Common Shares, Preferred To record issuance of 1,800 preferred shares at $7.00 per share. 15,000 3,000 2,000 (d) Common Shares Contributed Surplus Retained Earnings Cash Repurchased and retired 5,000 common shares at $4.00. Average cost of shares is $3.00. Balance in Contributed Surplus account was $3,000 prior to this entry. 20,000 240,000 240,000 (e) Land Common Shares Issued 80,000 common shares in exchange for land valued at $240,000. This is a reliable value. Share price at the time of exchange is $3.50 55,000 40,000 15,000 (f) Common Shares Cash Contributed Surplus Repurchased and retired 10,000 common shares at $4.00. Average cost of shares is $5.50. (g) Vehicles Common Shares Issued 10,000 common shares in exchange for a new bus valued at $44,000. Share price at date of exchange was |$4.00. 40,000 40,000 Instructions In the answer space below, indicate all of the entries that are correctly recorded. Provide a few comments to help support your thoughts, whether about the correct or incorrect entries. for the toolbar prece ATC10 Dar ALTLENLC10 Mac