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On October 10, the stockholders equity of Sherman Systems appears as follows: Common stock$10 par value, 82,000 shares authorized, issued, and outstanding $ 820,000 Paid-in

On October 10, the stockholders equity of Sherman Systems appears as follows:

Common stock$10 par value, 82,000 shares authorized, issued, and outstanding $ 820,000
Paid-in capital in excess of par value, common stock 266,000
Retained earnings 944,000

Total stockholders equity $ 2,030,000

1.

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

a.

Purchased 6,000 shares of its own common stock at $35 per share on October 11.

b. Sold 1,250 treasury shares on November 1 for $41 cash per share.
c.

Sold all remaining treasury shares on November 25 for $30 cash per share.

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