CAT Exercise 11-13 (Algo) Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity section of Sherman Systems appears as follows Common stock-$10 par value, 5,650 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 940,000 326,00 1,040,000 $ 2,300.000 1. Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 7.200 shares of its own common stock at $47 per share on October 11 b. Sold 1.550 treasury shares on November 1 for $53 cash per share c. Sold all remaining treasury shares on November 25 for $46 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 9 Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 7,200 shares of its own common stock at $17 per share on October 11. b. Sold 1.550 treasury shares on November 1 for $53 cash per share c. Sold all remaining treasury shares on November 25 for $io cash per share 112 Show less points View transaction ist Journal entry worksheet 1 2 3 > Record the purchase of 7,200 shares of its own common stock for $47 cash per share. Note Enter debits before Transaction General Journal Debit Credit Journal entry worksheet Record the reissue of 1,550 shares of the treasury stock for $53 cash per share. Note: Enter debits before credits. General Journal Debit Credit Transaction b Record entry Clear entry View general journal Journal entry worksheet