Cheap Discount Furniture, Inc. completed the following treasury stock transactions in 2016: (Click the icon to view the transactions.) Requirements 1. Journalize these transactions. Explanations are not required. 2. How will Cheap Discount Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2016? Requirement 1. Journalize these transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) Dec. 1: Purchased 1,900 shares of the company's $1 par value common stock as treasury stock, paying cash of $7 per share. Date Accounts and Explanation Debit Credit Dec. 1 Dec. 15: Sold 400 shares of the treasury stock for cash of $10 per share. Date Accounts and Explanation Debit Credit Dec. 15 Dec. 20: Sold 1,000 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 $2,300.) Cheap Discount Furniture, Inc. completed the following treasury stock transactions in 2016: (Click the icon to view the transactions.) Requirements 1. Journalize these transactions. Explanations are not required. 2. How will Cheap Discount Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2016? .. Dec. 15: Sold 400 shares of the treasury stock for cash of $10 per share. Date Accounts and Explanation Debit Credit Dec. 15 Dec. 20: Sold 1,000 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 $2,300.) Date Accounts and Explanation Debit Credit Dec. 20 Requirement 2. How will Cheap Discount Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2016? Cheap Discount Furniture, Inc. will report treasury stock on the balance sheet as V to total stockholders' equity