Treasury Stock Transactions Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 6,800 shares of its common stock at $79 per share. On September 22, Mystic Lake sold 4,800 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 Sept. 22 III In 11 Nov. 23 b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? C. For what reasons might Mystic Lake Inc. have purchased the treasury stock