On May 3, Zirbal Corporation purchased 5,500 shares of its own stock for $55,000 cash. On November 4 , Zirbal reissued 900 shares of this treasury stock for $9,900. 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 5,500 shares of its own stock for $55,000 cash. Note: Enter debits before credits