In 2022, Morty Co. issued 300,000 of its 500,000 authorized shares of $10 par value common stock at $35 per share. In January 2023, Morty Co., repurchased 30,000 shares at $30 per share. Assume these are the only stock transactions the company has ever had. Required: a. Prepare the journal entry to record the purchase of treasury stock by the cost method. b. 11,000 shares of treasury stock are reissued at $33 per share. Prepare the journal entry to record the reissuance using the cost method.