On October 10, the stockholders equity section of Sherman Systems appears as follows. Common stock$10 par value, 76,000 shares authorized, issued, and outstanding $ 760,000 Paid-in capital in excess of par value, common stock 236,000 Retained earnings 896,000 Total stockholders equity $ 1,892,000 1. Prepare journal entries to record the following transactions for Sherman Systems. Purchased 5,400 shares of its own common stock at $29 per share on October 11. Sold 1,100 treasury shares on November 1 for $35 cash per share. Sold all remaining treasury shares on November 25 for $28 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase.

Complete this question by entering your answers in the tabs below. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,400 shares of its own common stock at $29 per share on October 11 . b. Sold 1,100 treasury shares on November 1 for $35 cash per share. c. Sold all remaining treasury shares on November 25 for $28 cash per share