Chapter 12 Homework eBook Show Me How Treasury Stock Transactions Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 4,300 shares of its common stock at $83 per share. On September 22, Mystic Lake sold reacquired shares at $93 per share. The remaining 1,300 shares were sold at $78 per share on November 23. a. Journalize the transactions of July 9, September 22, and November 23. If an amount box does not require an entry, leave it blank. July 9 Treasury Stock Cash Sept. 22 Cash Treasury Stock Paid-In Capital from Sale of Treasury Stock Nov. 23 Cash Paid-In Capital from Sale of Treasury Stockin Treasury Stock 556,300 356300 279,000 349,000 30.000 107,300 YOws My W The repurchase of shares, known as treasury stock, is typically recorded using the cost method. When the treasury stack is resold, what is the company receiving? What is it giving up? Keep in s paid to buy the treasury stock and the price the shares are resold for at a later date. b. What is the balance in Pald-te Capital from Sale of Treasury Stock on December 31 of the current year? Credit