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

Common stock$10 par value, 81,000 shares authorized, issued, and outstanding	$	810,000
Paid-in capital in excess of par value, common stock		261,000
Retained earnings		936,000
Total stockholders equity	$	2,007,000

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

a. Purchased 5,900 shares of its own common stock at $34 per share on October 11.

b. Sold 1,225 treasury shares on November 1 for $40 cash per share.

c. Sold all remaining treasury shares on November 25 for $29 cash per share.

2. Prepare the revised equity section of its balance sheet after the October 11 treasury stock purchase.