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1 More Info Dec. 1Purchased 1,700 shares of the company's $1 par value common stock as treasury stock, paying cash of $7 per share. 15 Sold 700 shares of the treasury stock for cash of $10 per share. 20 Sold 800 shares of the treasury stock for cash of $3 per share. (Assume the balance in Paid-In Capital from Treasury Stock Transactions on December 20 is $2,600.) Discount World Furniture, Inc. completed the following treasury stock transactions in 2018: (Click the icon to view the transactions.) Requirements 1. Journalize these transactions. Explanations are not required. 2. How will Discount World Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? Requirement 1. Journalize these transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) Dec. 1: Purchased 1,700 shares of the company's $1 par value common stock as treasury stock, paying cash of $7 per share. Date Accounts Debit Credit Dec. 1 Dec. 15: Sold 700 shares of the treasury stock for cash of $10 per share. Date Accounts Debit Credit Dec. 15 Dec. 20: Sold 800 shares of the treasury stock for cash of $3 per share. (Assume the balance in Paid-In Capital from Treasury Stock Transactions on December 20 is $2,600.) Date Accounts Debit Credit Dec. 20 Requirement 2. How will Discount World Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? on the balance sheet as Discount World Furniture, Inc. will report treasury stock total stockholders' equity. V to

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