Mystic Lake Inc bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 3,600 shares of its common stock at $54 per share. On September 22, Mystic Lake sold 2,500 of the reacquired shares at $60 per share. The remaining 1,100 shares were sold at $51 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 Sept Nov. 23 00 000 000 b. What is the balance In Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? For what reasons might Mystic Lake Inc. have purchased the treasury stock?