Exercise 1113 (Algo) Recording and reporting treasury stock transactions LO P3 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6.600 shares of its own common stock at $41 per share on October 11 . b. Sold 1,400 treasury shares on November 1 for $47 cash per share. c. Sold all remaining treasury shares on November 25 for $40 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. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,600 shares of its own common stock at $41 per share on October 11 . b. Sold 1,400 treasury shares on November 1 for $47 cash per share. c. Sold ali remaining treasury shares on November 25 for $40 cash per share. On October 10, the stockholders' equity section of Sherman Systems appears as follows. Comuion stook-510 paz value, 88,000 sharen authorized, insued, and outotsonding Paid-in capital in excens of par value, common stock Retained earnings Total stockholdera' equity 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,600 shares of its own common stock at $41 per share on October 11. b. Sold 1,400 treasury shares on November 1 for $47 cash per share. c. Sold all remaining treasury shares on November 25 for $40 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. Prepare the stockholders' equity section after the October 11 treasury stock purchase