Mystic Lake inc, bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 80,000 shares of its common stock at $44 per share. On September 22, Mystic Lake sold 55,000 of the reacquired shares at $52 per share. The remaining 25,000 shares were sold at 540 per share on November 23. a. Journalize the transactions of July 9 , 5eptember 22 , and November 23 , If an amount box does not require an entry, leave it blank, b. What is the balance in Paid-In Copital from Sale of Treasury Stock on December 31 of the current year? c. For what reasons might Mystic Lake Inc, have purchased the treasury stock