On May $3,$ Zirbal Corporation purchased $4,500$ shares of its own stock for $$36,000$ cash. On November $4,$

Zirbal reissued $800$ shares of this treasury stock for $$7,200.$

Prepare the May $3$ and November $4$ journal entries to record Zirbal's purchase and reissuance of treasury

stock.

Journal entry worksheet

Record the purchase of $4,500$ shares of its own stock for $$36,000$ cash.

Note: Enter debits before credits.