ezto.mheducation.com G + Home - hafstra.edu M Question 2 - Midterm 2 - Cannect Midterm 2 A Saved Help Save & Exit Submit The December 31, 2021, balance sheet of MBI Company included the following: 2 Common stock, 20.6 million shares outstanding at $1 par Paid-in capital excess of par Retained earnings $ 20,600,000 103,000,000 121,000,000 X 01:02:54 MBI completed the following transactions in 2021 relating to treasury stock: March 17: Reacquired 2.6 million shares at 510.60. May 17: Reacquired 2.6 million shares at $9.30. August 10: Issued 3.6 million shares at $12.30. Required: Prepare journal entries to record the foregoing transactions on a weighted average basis. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions rounded to 4 decimal places (i.e., 5,555,000 should be entered as 5.5550).) View transaction list Journal entry worksheet Reacquired 2.6 million shares at $10,60. Note: Enter debits before credits General Journal Credit Date March 17, 2021 Debit 2.7560 Treasury stock Cash 77560 Mc Graw Hill