Wyatt Rainbow Company provides the following information regarding its most recent balance sheet. (Click the icon to view the data.) Wyatt Rainbow acquired 26,000 shares of common stock in the open market at a price of $16 per share and retired the shares. What is the journal entry to record this transaction? (Record debits first, then credits. Exclude explanations from any journal entries.) Account - X Current Year Data Table 7 $ 1,047,000 Stockholders' Equity Common Stock, $6 par value, 1,147,000 shares authorized, 174,500 shares issued and outstanding Additional Paid-in Capital in Excess of Par - Common Additional Paid-in Capital - Retired Shares Retained Earnings Total Stockholders' Equity 1,221,500 48.500 183.000 $ 2,500,000 Print Done Choose from any list or enter any number in the input fields and then continue to the next