$ 720,000 216,000 864,000 $ 1,800,000 Common stock-$10 par value, 72,000 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 5,000 shares of its own common stock at $25 per share on October 11. b. Sold 1,000 treasury shares on November 1 for $31 cash per share. c. Sold all remaining treasury shares on November 25 for $24 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. Answer is not complete. 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 5,000 shares of its own common stock at $25 per share on October 11. b. Sold 1,000 treasury shares on November 1 for $31 cash per share. c. Sold all remaining treasury shares on November 25 for $24 cash per share. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,000 shares of its own common stock at $25 per share on October 11. b. Sold 1,000 treasury shares on November 1 for $31 cash per share, c. Sold all remaining treasury shares on November 25 for $24 cash per share, Show less No Transaction General Journal Credit Debit 125,000 1 a Treasury stock Cash 125,000 2 b. 31,000 Cash Treasury stock Paid.in capital, treasury stock 0 25,000 6,000 3 C Cash Pald-in capital, treasury stock Pald.in capital, treasury stock Treasury stock S 103,200 6,000 14,900 100,000 Required Required 2 > 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 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 0 Total 0 Total stockholders' equity 0