Foodmart, Inc. completed the following treasury stock transactions in 2018:
Mar. 3 Purchased 1,800 shares of the company's $3 par value common stock as treasury stock, paying cash of $10 per share.
Mar. 17 Sold 400 shares of the treasury stock for cash of $12 per share.
Mar. 25 Sold 600 shares of the treasury stock for cash of $7 per share.
(Assume the balance in Paid-In Capital from Treasury Stock Transactions on March 24 is $ 1,200.)
Journalize these transactions. Explanations are not required.
How will Foodmart, Inc. report treasury stock on its balance sheet as of Decembe
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