Beaverhead Creek Inc. bottles and distributes spring water. On April 27 of the current year, Beaverhead Creek reacquired 5,300 shares of its common stock at $62 per share. On July 13, Beaverhead Creek sold 3,700 of the reacquired shares at $67 per share. The remaining 1,600 shares were sold at $59 per share on October 8.

a. Journalize the transactions of April 27, July 13, and October 8. For a compound transaction, if an amount box does not require an entry, leave it blank.

b.

What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? $ SelectDebitCreditCorrect 2 of Item 2

c. For what reasons might Beaverhead Creek have purchased the treasury stock? SelectTo support the market price of the stock.To provide shares for resale to employees.For reissuance to employees as a bonus according to stock purchase agreements.None of these reasons.All of these reasons.