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On October 10, the stockholders' equity section of Sherman Systems appears as follows. begin{tabular}{lr} Common stock- $10 par value, 73,000 shares authorized, issued, and outstanding

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On October 10, the stockholders' equity section of Sherman Systems appears as follows. \begin{tabular}{lr} Common stock- $10 par value, 73,000 shares authorized, issued, and outstanding & $730,000 \\ Paid-in capital in excess of par value, common stock & 221,000 \\ Retained earnings & 872,000 \\ \hline Total stockholders equity & $1,823,000 \\ \hline \hline \end{tabular} 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,100 shares of its own common stock at $26 per share on October 11. b. Sold 1,025 treasury shares on November 1 for $32 cash per share. c. Sold all remaining treasury shares on November 25 for $25 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase

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