Cheap Quality Furniture, Inc. completed the following treasury stock transactions in 2024: (Click the icon to view the transactions.) Requirements 1. Journalize these transactions. Explanations are not required. 2. How will Cheap Quality 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 1,600 shares of the company's $1 par value common stock as treasury stock, paying cash of $7 per share. Date Dec. 1 Accounts Debit Credit More info Dec. 1 Dec. 15 Dec. 20 Purchased 1,600 shares of the company's $1 par value common stock as treasury stock, paying cash of $7 per share. Sold 500 shares of the treasury stock for cash of $10 per share. Sold 700 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 $2,700.) Print Done