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On October 10, the stockholders' equity of Sherman Systems appears as follows: Prepare journal entries to record the following transactions for Sherman Systems. Purchased 5,

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On October 10, the stockholders' equity of Sherman Systems appears as follows: Prepare journal entries to record the following transactions for Sherman Systems. Purchased 5, 600 shares of its own common stock at $31 per share on October 11. Sold 1, 150 treasury shares on November 1 for $37 cash per share. Sold all remaining treasury shares on November 25 for $26 cash per share. Prepare the revised equity section of its balance sheet after the October 11 treasury stock purchase

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