91 points 11 Common stock-$10 par value, 91,000 shares authorized, issued, and outstanding $ Paid-in capital in excess of par value, common stock Retained earnings $10,000 311,000 Total stockholders' equity 1,016,000 $2,237,000 1. Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 6,900 shares of its own common stock at $44 per share on October 11 b. Sold 1,475 treasury shares on November 1 for $50 cash per share. c. Sold all remaining treasury shares on November 25 for $39 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 11 Required 2 Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,900 shares of its own common stock at $44 per share on October 11. b. Sold 1,475 treasury shares on November 1 for $50 cash per share. c. Sold all remaining treasury shares on November 25 for $39 cash per share. Help Save & Exit