Biscayne Bay Water Inc, bottles and distributes spring water. On May 14 of the current year, Biscayne Bay Water reacquired 2,500 shares of its common stock at $70 per share, On September 6 , Biscayne Bay Water sold 2,000 of the reacquired shares at $74 per shore. The remaining 500 shares were sold at $65 per share on November 30 . a. Journalize the transactions of May 14, September 6 , and November 30 . If an amount box does not require an entry, Jeave it blank. b. What is the balance in Paid-in Capital from Sale of Treasury Stock on December 31 of the current year? c. Where will the belance in Paid-in Capital from Sale of Treasury Stock be reported on the balance sheet? d. For what reasons might Biscayne Bay Water Inc, have purchosed the treasury stock