Carla Vista Ltd., which has a December 31 year-end, had the following shareholders' equity account balances as of December 31, 2024:
Common shares (1,098,000 shares issued and outstanding): $ 19,764,000
Retained earnings: $ 5,372,000
On January 22, 2025, Carla Vista Ltd. repurchased and canceled 190,000 common shares, paying $22.00 per share.
Provide the journal entry to record the share repurchase transaction.
