On October $10,$ the stockholders' equity section of Sherman Systems appears as follows. Required $1$

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

a$.$ Purchased $7,200$ shares of its own common stock at $$47$ per share on October $11.$

b$.$ Sold $1,550$ treasury shares on November $1$ for $$53$ cash per share.

c$.$ Sold all remaining treasury shares on November $25$ for $$46$ cash per share.

Journal entry worksheet

Record the purchase of $7,200$ shares of its own common stock for $$47$ cash

per share.

Note: Enter debits before credits. Complete this question by entering your answers in the tabs below.

Required $2$

Prepare the stockholders' equity section after the October $11$ treasury stock purchase.

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

a$.$ Purchased $7,200$ shares of its own common stock at $$47$ per share on October $11.$

b$.$ Sold $1,550$ treasury shares on November $1$ for $$53$ cash per share.

c$.$ Sold all remaining treasury shares on November $25$ for $$46$ cash per share.

Prepare the stockholders' equity section after the October $11$ treasury stock purchase.