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On October 10, the stockholders equity of Sherman Systems appears as follows. Common stock-$10 par value, 77,000 shares authorized, issued, and outstanding Paid-in capital in

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On October 10, the stockholders equity of Sherman Systems appears as follows. Common stock-$10 par value, 77,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity s 770,000 241,000 904,000 1,915,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,500 shares of its own common stock at $30 per share on October 11. b. Sold 1,125 treasury shares on November 1 for $36 cash per share c. Sold all remaining treasury shares on November 25 for $25 cash per share

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