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Part $1$

Discount Center comma Inc. completed the following treasury stock transactions in $2025$:

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Requirements

$1.$

Journalize these transactions. Explanations are not required.

$2.$

How will Discount Center comma Inc. report treasury stock on its balance sheet as of December $31,2025?$

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Part $1$

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

Dec. $1$: Purchased $1$ comma $000$ shares of the$$ company's $$1$ par value common stock as treasury$$ stock, paying cash of $ $11$ per share.

Date

Accounts

Debit

Credit

Dec. $1$

Treasury Stock$$Common

$11,000$

Cash

$11,000$

Part $2$

Dec. $15$: Sold $200$ shares of the treasury stock for cash of $ $18$ per share.

Date

Accounts

Debit

Credit

Dec. $15$

Cash

$3,600$

Treasury Stock$$Common

$2,200$

Paid$-$In Capital from Treasury Stock Transactions

$1,400$

Part $3$

Dec. $20$: Sold $600$ shares of the treasury stock for cash of $ $2$ per share.$($Assume the balance in$$ Paid$-$In Capital from Treasury Stock Transactions on December $20$ is $ $2$ comma $800.)$

Date

Accounts

Debit

Credit

Dec. $20$

Cash

$1,200$

Paid$-$In Capital from Treasury Stock Transactions

$2,800$

Retained Earnings

Treasury Stock$$Common

$6,600$