Roquirement 1. Joumalze these transactions. (Reood debas first, then credits. Exclude explanations from finy fournal erinies.) Dec. 1: Purchtsed 1, 600 shares of the companys 51 par velue common stoek as troesury stock, paying cach of s5 per share. Dec. 15, Sold 200 shares of the treasury stock for cash of $8 por ahare. Dec. 20: Seld 1,000 shares of the treasury steck for eash of 51 per share (Assump the bakared in fhatifin Faptal trem Treasury Stock Transactions on De Requirement 2. How wil Cheep Disceunt Furniture, ine, report treetury stoek an is balance sheet as of December 31,2016 ? Cheap Disceunt Furniture, Ine, will report trensury stock on the baiance shet as Is sotid stockheiders' equity. Requirement 1. Joumalize these transactions. (Record debits frst, then credits. Exclude explaratons from any joumal entles.) Dec. 1: Purchased 1,500 shares of the company's $1 par value common stock as treasury stock, paying cash of $5 per share. Dec. 15: Sold 200 shares of the treasury stock for cash of $8 per share. Dec. 20: Sold 1,000 shares of the treasury stock for cash of 51 per share. (Assume the balance in Paid Captal from Treasury Stock Transactions on Decemt Requirement 2. How will Cheap Disoount Fumiture, Ine, repot troasury stoek on its balance sheot at of December 31, 2016? Cheap Discount Fumbure, inc. will report treasury stork on the balance sheet as to tetal stochtidders' equity