On May 3, Zirbal Corporation purchased 6,500 shares of its own stock for $78,000 cash. On November 4, Zirbal reissued 1,000 shares of this treasury stock for $13,000. 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 2 Record the purchase of 6,500 shares of its own stock for $78,000 cash. Note: Enter debits before credits Debit General Journal Date Credit May 03