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On May 3, Zirbal Corporation purchased 5,000 shares of its own stock for $45,000 cash. On November 4, Zirbal reissued 850 shares of this

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On May 3, Zirbal Corporation purchased 5,000 shares of its own stock for $45,000 cash. On November 4, Zirbal reissued 850 shares of this treasury stock for $8,500. Prepare the May 3 and November 4 journal entries to record Zirbal's purchase and reissuance of treasury stock View transaction list Journal entry worksheet < 1 2 Record the purchase of 5,000 shares of its own stock for $45,000 cash. Note: Enter debits before credits. Date: May 03 General Journal Debit Credit

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