Return to question 2 QS 13-11 Purchase and sale of treasury stock LO P3 2 points On May 3, Zirbal Corporation purchased 6,500 shares of its own stock for $78,000 cash. On November 4, Zirbal reissued 1,000 shares of this treasury stock for $13,000 Prepare the May 3 and November 4 journal entries to record Zirbal’s purchase and reissuance of treasury stock Answer is not complete Date General Journal Debit Credit May 03 Treasury stock 78,000 Cash 78,000 2 Nov 04 Treasury sto ck Paid-in capital, treasury sto ck 1,300

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