SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On March 9 of the current year, SprayCo reacquired 11,100 shares of its common stock at $25 per share. On June 9, 7,000 of the reacquired shares were sold at $27 per share, and on November 13, 2,700 of the reacquired shares were sold at $29. a. Journalize the transactions of March 9, June 9, and November 13. If an amount box does not require an entry, leave it blank. Mar. 9 Treasury Stock Cash June 9 Cash Treasury Stock Paid-In Capital from Sale of Treasury Stock Nov. 13 Cash Treasury Stock Paid-In Capital from Sale of Treasury Stock Feedback 277,500 277,500 189,000 175,000 14,000 78,300 67,500 Check My Work The repurchase of shares, known as treasury stock, is typically recorded using the cost method. When the treasury stock is resold, what is the company receiving? What is it giving up? Keep in mind the price paid to buy the treasury stock and the price the shares are resold for at a later date. Learning Objective 5, Learning Objective 6. b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? c. What is the balance in Treasury Stock on December 31 of the current year? d. How will the balance in Treasury Stock be reported on the balance sheet