Bargain Basement Furniture, Inc. completed the following treasury stock transactions in $2024$:

$($Click the icon to view the transactions.$)$

Requirements

Journalize these transactions. Explanations are not required.

How will Bargain Basement Furniture, Inc. report treasury stock on its balance sheet as of December $31,2024?$

Requirement $1.$ Journalize these transactions. $($Record debits first, then credits. Exclude explanations from any journal entries.$)$

Dec. $1$: Purchased $1,800$ shares of the company's $$1$ par value common stock as treasury stock, paying cash of $$7$ per share.

Dec. $15$ : Sold $300$ shares of the treasury stock for cash of $$10$ per share.