$ 750,000 231,000 888,000 $ 1,869,000 On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value, 4,225 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 5,300 shares of its own common stock at $28 per share on October 11. b. Sold 1,075 treasury shares on November 1 for $34 cash per share. c. Sold all remaining treasury shares on November 25 for $27 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 5,300 shares of its own common stock at $28 per share on October 11. b. Sold 1,075 treasury shares on November 1 for $34 cash per share. c. Sold all remaining treasury shares on November 25 for $27 cash per share. Show less No Transaction General Journal Debit Credit 1 a 148,400 Treasury stock Cash 148,400 2 2 b 36,550 Cash Treasury stock Paid-in capital, treasury stock OOO 30,100 6,450 3 C. Cash 114,075 0 X Paid-in capital, treasury stock Treasury stock >> 9,450 On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value, 4,225 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 750,000 231,000 888,000 $ 1,869,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,300 shares of its own common stock at $28 per share on October 11. b. Sold 1,075 treasury shares on November 1 for $34 cash per share. c. Sold all remaining treasury shares on November 25 for $27 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 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