QS 11-11 Purchase and sale of treasury stock LO P3 On May 3, Zirbal Corporation purchased 4,000 shares of its own stock for $36,000 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. Journal entry worksheet Record the purchase of 4,000 shares of its own stock for $36,000 cash. Note: Enter debits before credits. Debit Credit General Journal Date May 03 14 ii! Next >