Instructions Biscayne Bay Water Inc. bottles and distributos spring water. On May 14 of the current year, Biscayne Bay Water Inc., reacquired 26,550 shares of its common stock at $67 per share. On September 6, Biscayne Bay Watering, sold 12,750 of the reacquired shares at $73 per share. The remaining 13,800 shares were sold at 504 per share on November 30 Required: A. Journalize the transactions of May 14, September 6, and November 30. Refer to the Chart of Accounts for exact wording of account titles. 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 balance 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 purchased the treasury stock