Question

Discount Center Furniture, Inc. completed the following treasury stock transactions in 20 (Click the icon to view the transactions.) Requirements 1. Journalize these transactions. Explanations are not required 2. How will Discount Center Furniture, Inc. report treasury stock on its balance sheet as of December 31, 2016? X from any jourr More Info g cash of $7 p edit Dec. Purchased 1,500 shares of the company's $1 par value common stock as treasury stock, paying cash of $7 per share. 15 Sold 200 shares of the treasury stock for cash of $10 per share 20 Sold 900 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 ion. $1,800.)