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Accounting Principles Exercises - The following transactions that AEC Ltd. conducted during 2019:
Feb. 19 Issued 8,000 common shares at $15.00 per share.
Apr. 24 Repurchased 2,000 common shares at $13.00 per share. The average issue price of the shares was $14.00.
Jun. 30 Repurchased 2,000 common shares at $18.00 per share. The average issue price of the shares was $14.00.
Nov. 12 Sold 400 common shares at $11.50 per share.
Dec. 6 Sold 100 preferred shares at $50.00 per share.
Required - Prepare journal entries for the above transactions.
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