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Beaverhead Creek Inc. bottles and distributes spring water. On March 4 of the current year, Beaverhead Creek reacquired 5,000 shares of its common stock at

Beaverhead Creek Inc. bottles and distributes spring water. On March 4 of the current year, Beaverhead Creek reacquired 5,000 shares of its common stock at $90 per share. On August 7, Beaverhead Creek sold 3,500 of the reacquired shares at $100 per share. The remaining 1,500 shares were sold at $88 per share on November 29. For a compound transaction, if an amount box does not require an entry, leave it blank. a1. Journalize the transactions of March 4. Account Debit Credit Treasury Stock Cash a2. Journalize the transactions of August 7 Account Debit Credit Cash Treasury Stock Paid-In Capital from Sale of Treasury Stock a3. Journalize the transactions of November 29. Account Debit Credit Cash Paid-IN Capital from Sale of treasury Stock Treasury Stock b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? c. For what reasons might Beaverhead Creek have purchased the treasury stock

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