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On 1 January 2017, Alor Bhd had 1,000,000 outstanding ordinary shares which had been originally issued at a price of RM3.50 per share. During the year, the company engaged in the following treasury share transactions:
1 February 2017 Repurchased 10,000 units of its ordinary shares for RM3.30 per share.
3 March 2017 Reissued 6,000 units of the treasury share for RM3.50 per share.
5 May 2017 Reissued 3,000 shares of the treasury share for RM3.20 per share.
31 August 2017 Retired the remaining 1,000 units of treasury share.
Required:
Question 1: Prepare journal entries to record the above transactions.
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