Treasury Stock Transactions Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 6,600 shares of its common stock at $79 per share. On September 22, Mystic Lake sold 4,600 of the reacquired shares at $88 per share. The remaining 2,000 shares were sold at $75 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, leave it blank July 9 Treasury Stock V 21,400 Cash 21,400 Sept. 22 -Cash 404,800 Treasury Stock Pald-In Capital from Sale of Treasury Stock 63,400 41,400 Nov. 23 Cash 150,000 26,000 Paid-In Capital from Sale of Treasury Stock | Treasury Stock 176,000 X Y Check My Work the company receiving? The repurchase of shares, known as treasury stock, is typically recorded using the cost method. When the treasury stock is resold, what is What is Learning Objective 5 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