Exercise 13-13 (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, 4,225 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 5,300 shares of its own common stock at $28 per share on October 11. b. Sold 1,075 treasury shares on November 1 for $34 cash per share. c. Sold all remaining treasury shares on November 25 for $27 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 5,300 shares of its own common stock at $28 per share on October 11. b. Sold 1,075 treasury shares on November 1 for $34 cash per share. c. Sold all remaining treasury shares on November 25 for $27 cash per share. $750,000 231,000 888,000 $ 1,869,000 View New transaction list Show less A Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,300 shares of its own common stock at $28 per share on October 11. b. Sold 1,075 treasury shares on November 1 for $34 cash per share. c. Sold all remaining treasury shares on November 25 for $27 cash per share. View transaction list Journal entry worksheet Record the purchase of 5,300 shares of its own common stock for $28 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit View general journal Clear entry Show less & . Purchased 5,300 shares of its own common stock at $28 per share on October 11. b. Sold 1,075 treasury shares on November 1 for $34 cash per share. . Sold all remaining treasury shares on November 25 for $27 cash per share. View transaction list Journal entry worksheet < 1 2 3 Record the reissue of 1,075 shares of the treasury stock for $34 cash per share. Note: Enter debits before credits Transaction b. General Journal Debit Credit Record entry Clear entry View general journal Show less A a. Purchased 5,300 shares of its own common stock at $28 per share on October 11. b. Sold 1,075 treasury shares on November 1 for $34 cash per share. c. Sold all remaining treasury shares on November 25 for $27 cash per share. View transaction list Journal entry worksheet < 1 2 3 Record the reissue of the remaining shares of the treasury stock for $27 cash per share. Note: Enter debits before credits. Transaction C. General Journal Debit Credit Record entry Clear entry View general journal