Question 1 On June 8, Crown Point Ltd was incorporated and issued 57,000 common shares for $342,000. On August 19, an additional 14,250 shares were issued for $99,750. On November 2, the company paid $37,700 to reacquire 6,500 common shares and on December 7 it paid $57,000 to reacquire 7,600 common shares. Answer CLOSE Question 1 Calculate the average cost of the common shares on June 8, August 19, November 2, and December 7. (Round answers to 2 decimal places, e.g. 15.25.) Average Cost June 8 $ 6.00 A Aug. 19 6.20 Nov. 2 6.20 A Dec. 7 6.20 Prepare the journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit June 8 A Aug. 19 Nov. 2 A Dec. 7