3. Tomato Company has 300,000 no-par value common shares authorized, issued, and outstanding. The shares were initially issued at $40 per share. On February 28, 2021, Tomato reacquired 6,000 shares at a cost of $38 per share. On October 9, 2021, the company purchased and cancelled an additional 4,000 shares. The purchase cost was $44 per share. (4 marks)

Required:

Prepare the journal entries to record the reacquisition of the shares.