Treasury Stock Transactions Yard Spray Inc develops and produces spraying equipment for lawn maintenance and industrial uses, On January 31 of the current year, Yard Spray Inc. reacquired 42,000 shares of its common stock at $36 per share. On June 14, 19,000 of the reacquired shares were sold at $43 per share, and on November 23, 16,000 of the reacquired shares were sold at $39. a. Journalize the transactions of January 31, June 14, and November 23. If an amount box does not require an entry, leave it blank. Treasury Stock Jan. 31 Cash June. 14 Cash JO IO III III II Nov. 23 Feedback Check My Wor 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. . What is the balance in Pald-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? Feedback