On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value, 5,125 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 6,500 shares of its own common stock at $40 per share on October 11. b. Sold 1,375 treasury shares on November 1 for $46 cash per share. c. Sold all remaining treasury shares on November 25 for $39 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. $ 870,000 291,000 984,000 $ 2,145,000 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,500 shares of its own common stock at $40 per share on October 11. b. Sold 1,375 treasury shares on November 1 for $46 cash per share. c. Sold all remaining treasury shares on November 25 for $39 cash per share. Show less Required 1 Required 2 Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,500 shares of its own common stock at $40 per share on October 11. b. Sold 1,375 treasury shares on November 1 for $46 cash per share. c. Sold all remaining treasury shares on November 25 for $39 cash per share. View transaction list Journal entry worksheet 1 2 3 Record the purchase of 6,500 shares of its own common stock for $40 cash per share. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal > Required 1 Required 2 Prepare the stockholders' equity section after the October 11 treasury stock p Revised Stockholders' Equity Section of Balance Sheet After October 11 Total contributed capital Total 0 0 Total stockholders' equity $ 0