On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 86,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 860,000 286,000 976,000 $2,122,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6.400 shares of its own common stock at $39 per share on October 11. ib. Sold 1,350 treasury shares on November 1 for $45 cash per share c. Sold all remaining treasury shares on November 25 for $34 cash per share Answer is not complete. Transaction General Journal Debit Credit Treasury stock Cash b. Cash Treasury stock Paid-in capital, treasury stock Paid-in capital, treasury stock Retsined earnings Treasury stock C. 2. Prepare the revised equity section of its balance sheet after the October 11 treasury stock purchase Answer is not complete. ised Equ Common stock, $10 par Paid-in capital in excess of par value, common stock Total contributed capital Retained eamings Total Less: Cost of treasury stock Total stockholders' equity Section of Balance Sheet After October 11