Need help with this problem please After being in business f

Need help with this problem please:

After being in business for several years and issuing its common stock to the public, Liquidation World, Inc., completed the following treasury stock transactions (Click the icon to view the transactions.) Read the reauirements Requirement 1. Journalize these transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Begin by journalizing the purchase of the treasury stock. Requirements -X Journal Entry Accounts Debit Credit a. Journalize these transactions. Explanations are not required What kind of account is Treasury Stock? After completing the two transactions, how should Liquidation World, Inc, report the treasury 2. stock on its balance sheet? Print Done

Solution

Journal entry :

Date	Accounts & explanation	debit	credit
	Treasury stock a/c
	Cash a/c
	(To record treasury stock purchased)