Bargain Basement 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 Bargain Basement 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 joumal entries. Check your spelling carefully and do not abbreviate.) Dec. 1: Purchased 1,300 shares of the company's $1 par value common stock as treasury stock, paying cash of $8 per share. Date Accounts Debit Credit Dec. 1 Dec. 15: Sold 300 shares of the treasury stock for cash of $11 per share, Date Accounts Debit Credit Dec. 15 Dec. 20: Sold 700 shares of the treasury stock for cash of $4 per share. (Assume the balance in Paid-In Capital from Treasury Stock Transactions on December 20 is $2,700.) Date Accounts Debit Credit Dec. 20 Requirement 2. How will Bargain Basement Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2018? Bargain Basement Furniture, Inc. will report treasury stock on the balance sheet as V to total stockholders' equity. above paid-in capital above retained earnings as part of paid-in capital beneath retained earnings