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Wyatt Rainbow Company provides the following information regarding its most recent balance sheet. Click the...

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Accounting

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Wyatt Rainbow Company provides the following information regarding its most recent balance sheet. Click the icon to view the data.) Wyatt Rainbow acquired 24,000 shares of common stock in the open market at a price of $18 per share and retired the shares. What is the joumal entry to record this transaction? (Record debits first, then credits. Exclude explanations from any journal entries.) Data Table Account $ 505,500 Stockholders' Equity Common Stock $3 par value, 655,500 shares authorized, 168,500 shares issued and outstanding Additional Paid in Capital in Excess of Par - Common Additional Paid-in Capital Retired Shares Retained Earnings Total Stockholders' Equity 1.179,500 169,500 945,500 5 2.800,000 Choose from any list or enter any num

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