17 points eBook 10 10 10 References On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value, 97,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,500 shares of its own common stock at $50 per share on October 11. b. Sold 1,625 treasury shares on November 1 for $56 cash per share. c. Sold all remaining treasury shares on November 25 for $49 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,500 shares of its own common stock at $50 per share on October 11. b. Sold 1,625 treasury shares on November 1 for $56 cash per share. c. Sold all remaining treasury shares on November 25 for $49 cash per share. $970,000 341,000 1,064,000 $2,375,000 View transaction list Journal entry worksheet < 2 3 Show less A 6 17 points eBook Hint Paid-in capital in excess of par valup, common stock Retained earnings Total stockholders' equity 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,500 shares of its own common stock at $50 per share on October 11. b. Sold 1,625 treasury shares on November 1 for $56 cash per share. c. Sold all remaining treasury shares on November 25 for $49 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 References Prepare the stockholders' equity section after the October 11 treasury stock purchase. Revised Stockholders' Equity Section of Balance Sheet After October 11 Total contributed capital Total Total stockholders' equity 341,000 1,064,000 $ 2,375,000