Exercise 11-10 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 86,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 860,000 286,888 976,000 $2,122,888 1. Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 6.400 shares of its own common stock at $39 per share on October 11. b. Sold 1,350 treasury shares on November 1 for $45 cash per share. c. Sold all remaining treasury shares on November 25 for $34 cash per share. 1. Prepare joumal entries to record the following transactions for Sherman a. Purchased 6.400 shares of its own common stock at $39 per share on October 11. b. Sold 1.350 treasury shares on November 1 for $45 cash per share. c. Sold all remaining treasury shares on November 25 for $34 cash per share. View transaction fist View transaction list 1 Record the purchase of 6,400 shares of its own common stock for $39 cash per share. casi 2 Record the reissue of 1,350 shares of the treasury stock for $45 cash per share. 3 Record the reissue of the remaining shares of the treasury stock for $34 cash per share.