On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value, 5,275 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,700 shares of its own common stock at $42 per share on October 11. b. Sold 1,425 treasury shares on November 1 for $48 cash per share. c. Sold all remaining treasury shares on November 25 for $41 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. question by entering your answers in the tabs below. $890,000 301,000 1,000,000 $ 2,191,000 Journal entry worksheet < 1 2 3 Record the purchase of 6,700 shares of its own common stock for $42 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Common stock, $10 par value es Journal entry worksheet < 1 2 3 Record the reissue of 1,425 shares of the treasury stock for $48 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Journal entry worksheet < 2 3 Record the reissue of the remaining shares of the treasury stock for $41 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit www Next > Check my work