On May 3, Zirbal Corporation purchased 3,500 shares of its own stock for $38,500 cash. On...

 

Transcribed Image Text:

On May 3, Zirbal Corporation purchased 3,500 shares of its own stock for $38,500 cash. On November 4, Zirbal reissued 1,250 shares of this treasury stock for $15,000. Prepare the May 3 and November 4 Journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet < 1 2 Record the purchase of 3,500 shares of its own stock for $38,500 cash. Note: Enter debits before credits. Date May 03 Record entry General Journal Clear entry Debit Credit View general journal Journal entry worksheet 2 1 Record the reissue of 1,250 shares of this treasury stock for $15,000. Note: Enter debits before credits. Date November 04 Record entry General Journal Clear entry Debit Credit View general journal On May 3, Zirbal Corporation purchased 3,500 shares of its own stock for $38,500 cash. On November 4, Zirbal reissued 1,250 shares of this treasury stock for $15,000. Prepare the May 3 and November 4 Journal entries to record Zirbal's purchase and reissuance of treasury stock. View transaction list Journal entry worksheet < 1 2 Record the purchase of 3,500 shares of its own stock for $38,500 cash. Note: Enter debits before credits. Date May 03 Record entry General Journal Clear entry Debit Credit View general journal Journal entry worksheet 2 1 Record the reissue of 1,250 shares of this treasury stock for $15,000. Note: Enter debits before credits. Date November 04 Record entry General Journal Clear entry Debit Credit View general journal