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

Common stock$10 par value, 90,000 shares authorized, issued, and outstanding	$	900,000
Paid-in capital in excess of par value, common stock		306,000
Retained earnings		1,008,000
Total stockholders equity	$	2,214,000

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

	a.	Purchased 6,800 shares of its own common stock at $43 per share on October 11.
	b.	Sold 1,450 treasury shares on November 1 for $49 cash per share.
	c.	Sold all remaining treasury shares on November 25 for $38 cash per share.

1.Record the purchase of 6,800 shares of its own common stock for $43 cash per share.

2.Record the reissue of 1,450 shares of the treasury stock for $49 cash per share.

3.Record the reissue of the remaining shares of the treasury stock for $38 cash per share.

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