$ 970,000 341,000 1,064,000 $ 2,375,000 On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value, 5,875 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 o. Purchased 7,500 shares of its own common stock at $50 per share on October 11. b. Sold 1625 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. Journal entry worksheet Record the purchase of 7,500 shares of its own common stock for $50 cash per share. Note: Enter debits before credits Transaction General Journal Debit Credit Journal entry worksheet Record the reissue of 1,625 shares of the treasury stock for $56 cash per share. Note: Enter debits before credits. Transaction b. General Journal Debit Credit Journal entry worksheet