Beaverhead Creek Inc. bottles and distributes spring water. In 2008, Beaverhead Creek was incorporated, and 100,000 common shares were issued for $70 per share. No share transactions have occurred until the current year. On March 4 of the current year, Beaverhead Creek reacquired and retired 5,000 common shares at $80 per share. On April 10, Beaverhead purchased and retired an additional 5,000 common shares at $65 per share and another 2,000 shares on November 30 at $75 per share.
a. Journalize the transactions of March 4, April 10, and November 30.
b. For what reasons might Beaverhead Creek have repurchased its shares?