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. Comnon Istock- $10 par value, 5,425 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. 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 $43 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. Journal entry worksheet Record the purchase of 6,900 shares of its own common stock for $44 cash per share. Note: Enter debits before credits. Journal entry worksheet Record the reissue of 1,475 shares of the treasury stock for $50 cash per share. Note: Enter debits before credits. Journal entry worksheet Record the reissue of the remaining shares of the treasury stock for $43 cash per share. Note: Enter debits before credits. Prepare the stockholders' equity section after the October 11 treasury stock purchase