Discount Center Fumiture, Inc. completed the following treasury stock transactions in $2016$

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

Requirements

Joumalize these transactions. Explanations are not required.

How will Discount Center 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 $$1$ par value common stock as treasury stock, paying cash of $$5$ per share.

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Dec$.1],[,,,-],[,,,],[,9,,]]$

Dec. $15$ : Sold $800$ shares of the treasury stock for cash of $$8$ per share.

Dec. $20.$ Sold $900$ shares of the treasury stock for cash of $$1$ per share. $($Assume the balance in Paid$-$In Capital from Treasury Stock Transactions on December $20$ is $$2,600)$

Requirement $2.$ How will Discount Center Fumiture, Inc. repori treasury stock on its balance sheet as of December $31,2016?$

Discount Center Fumiture, Inc. will report tre asury stock on the balance sheet as to total stockholders' equity.