Question: Hello, I currently need help creating a journal entry. Thank you for your help and time. On December 31,2020, Rebel Corporation's balance sheet reported the

Hello, I currently need help creating a journal entry. Thank you for your help and time.

your help and time. On December 31,2020, Rebel Corporation's balance sheet reported

On December 31,2020, Rebel Corporation's balance sheet reported the following. During 2021, Rebel decided to discontinue accounting for share buybocks as treasury shares, Instead, the shares will be treated as having been retired. Required: Prepare the appropriate journal entry to effect this change. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the entry to reclassify treasury shares as retired shares. Note: Enter debits before credits

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