I dont know how to answer this question...

2nd part of question...

After being in business for several years and issuing its common stock to the public, Cheap Quality, Inc., completed the following treasury sto transactions: A (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize these transactions. Explanations are not required. (Record debits first, then credits. Exclude exxplanations from any journal entries.) Begin by journalizing the purchase of the treasury stock. Journal Entry Accounts Debit Credit Now let's journalize the sale of the treasury stock. Journal Entry Accounts Debit Credit . i More Info Purchased 2,200 shares of the company's $5 par common stock as treasury stock, paying cash of $12 per share Sold 1.400 shares of the treasury stock for cash of $15 per share a. lal b. none After being in brsiness for several years and issuing its common stock to the public, Cheap Quality, Inc., completed the following treasury stock transactions A (Click the icon to view the transactions.) More Info Purchased 2,200 shares of the company's $5 par common stock as treasury stock, paying cash of $12 per share Sold 1,400 shares of the treasury stock for cash of $15 per share a. b. Print Done Requirement 2. What kind of account is Treasury stock? After completing the two transactions, how should Cheap Quality, Inc., report the treasury stock on its balance sheet? Treasury stock is After completing the two transactions, how should Cheap Quality, Inc. report the treasury stock on its balance sheet? Complete the partial balance sheet below to show how the company should record the treasury stook on its balance sheet. (Complete all answer boxes.) Cheap Quality, Inc. Balance Sheet (partial) SXXXXXX Total paid-in capital XXXX, Retained earnings XXX,XXXX Subtotal @ shares Treasury stock at Total Stockholders' Equity Choose from any list or enter any number in the input fields and then continue to the next