Utah Corporation has the following shareholders equity on December 31, 2021:

Shareholders' equity
Share capital
$10 convertible preferred shares,
10,000 shares authorized, 5900 shares issued		$577000
Common shares,
200,000 shares authorized, 100000 shares issued		1860000
Total share capital		2437000
Retained earnings		443000
Total shareholders equity		$2880000

If 10800 common shares were reacquired for $15 per share, the journal entry to record the transaction would