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Treasury Stock Transactions Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current year, Biscayne Bay Water reacquired 2,500
Treasury Stock Transactions Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current year, Biscayne Bay Water reacquired 2,500 shares of its common stock at $70 per shar September 6, Biscayne Bay Water sold 1,800 of the reacquired shares at $75 per share. The remaining 700 shares were sold at $65 per share on November 30. a. Journalize the transactions of May 14, September 6, and November 30. If an amount box does not require an entry, leave it blank. May 14 Treasury Stock Cash Sept. 6 Cash Treasury Stock 175,000 175,000 135,000 126,000 9,000 Paid-in Capital from Sale of Treasury Stock Nov. 30 Cash 45,500 Paid-in Capital from Sale of Treasury Stock 3,500 Treasury Stock 49,000
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