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Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year,...

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Accounting

Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 80,000 shares of its common stock at $44 per share. On September 22, Mystic Lake sold 55,000 of the reacquired shares at $52 per share. The remaining 25,000 shares were sold at $40 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
Paid-In Capital from Sale of Treasury Stock
Nov. 23
Paid-In Capital from Sale of Treasury Stock
TreasuryStock
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b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?
$
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