Treasury Stock Transactions Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 3,900 shares of its common stock at $54 per share. On September 22, Mystic take sold 2,700 of the reacquired shares at $60 per share. The remaining 1,200 shares were sold at $51 per share on November 23. a. Journalize the transactions of July 9, September 22, and November 23. If an amount box does not require an entry, teave it blank. July 9 Sept. 22 >> II III III Nov. 23 b. What is the balance in Pald-In Capital from Sale of Treasury Stock on December 31 of the current year? For what reasons might Mystic Lake Inc. have purchased the treasury stock