On October $10,$ the stockholders' equity section of Sherman Systems appears as follows.

Common stock$-$$$10$ par value, $87,000$ shares authorized, issued, and outstanding

Paid$-$in capital in excess of par value, common stock

Retained earnings

Total stockholders' equity

Prepare journal entries to record the following transactions for Sherman Systems.

a$.$ Purchased $6,500$ shares of its own common stock at $$40$ per share on October $11.$

b$.$ Sold $1,375$ treasury shares on November $1$ for $$46$ cash per share.

c$.$ Sold all remaining treasury shares on November $25$ for $$39$ cash per share.

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 $6,500$ shares of its own common stock at $$40$ per share on October $11.$

b$.$ Sold $1,375$ treasury shares on November $1$ for $$46$ cash per share.

c$.$ Sold all remaining treasury shares on November $25$ for $$39$ cash per share.

Journal entry worksheet

Record the purchase of $6,500$ shares of its own common stock for $$40$ cash

per share.

Note: Enter debits before credits.