The Irish Lontoc Corporation was authorized to issue $150,000$ no$-$par value common shares. There were $60,000$ shares outstanding for a total value of $$800,000$ as at December $31,206$ there were retained earnings of $$200,000.$ During $207,$ The Irish Lontoc Corporation carried out the following transactions:

Reacquired and canceled $10,000$ common shares at $$7\mathrm{.}00.$

ii$.$ Declared a cash dividend of $$2\mathrm{.}50.$

iii. Paid the dividend in ii$)$ above.

iv$.$ Sold $5,000$ common shares at $$12\mathrm{.}00$ per share.

v$.$ Reacquired and canceled $4,500$ common shares at $$11\mathrm{.}00.$

Required:

Prepare the journal entries for each of the above transactions.

Please Use Format Below to Answer the Required Entries:

$\backslash$table$[[$Description$/$Account$,$Debit,Credit$],[,,],[,,],[,,]]$