Your answer is partially correct. try again Sarasota Limited has 50,400 common share outstanding with an average price per share of $6. On August 1, 2020, the company recommend and T20 shares where contributed surplus of 10.25 per share the time of the reaction total 14.100), which were from nofced overcome cancellin of common (a) Prepare the journal entry to record this transaction Sarasota prepares financial statements in accordance with ASP (Credit runt titles are formata indented when the amount not identically. If no entry is requin select "No Entry for the account the water for thems) Date Account Tiles and Explanation Debit Cred Common Shares 31140 Contributed Surplus 180 Cash 30360 C