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1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,500 shares of its own common stock at $30 per share

image text in transcribed 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,500 shares of its own common stock at $30 per share on October 11. b. Sold 1,125 treasury shares on November 1 for $36 cash per share. c. Sold all remaining treasury shares on November 25 for $29 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase

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