Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current...
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Biscayne Bay Water Inc. bottles and distributes spring water. On May 14 of the current year, Biscayne Bay Water reacquired 23,500 shares of its common stock at $75 per share. On September 6, Biscayne Bay Water sold 14,000 of the reacquired shares at $81 per share. The remaining 9,500 shares were sold at $72 per share on November 30.
a. Journalize the transactions of May 14, September 6, and November 30. For a compound transaction, if an amount box does not require an entry, leave it blank.
| May 14 | Treasury Stock | ||
| Cash | |||
| Sept. 6 | Cash | ||
| Treasury Stock | |||
| Paid-in Capital from Sale of Treasury Stock | |||
| Nov. 30 | Cash | ||
| Paid-in Capital from Sale of Treasury Stock | |||
| Treasury Stock |
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