QS 11-15 Purchase and sale of treasury stock LO P3 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. 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 General Journal Debit Credit May 03 Journal entry worksheet Record the reissue of 850 shares of this treasury stock for $8,500. Note: Enter debits before credits. Date General Journal Debit Credit Nov 04