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. Or September 22, Mystic Lake sold 3,000 of the 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 Sept. 22 Nov. 23 b. What is the balance in Paid-In Capital 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?