On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value, 80,000 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 5,800 shares of its own common stock at $33 per share on October 11. b. Sold 1,200 treasury shares on November 1 for $39 cash per share. c. Sold all remaining treasury shares on November 25 for $32 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. $ 800,000 256,000 928,000 $ 1,984,000 Required 1 Required 2 Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,800 shares of its own common stock at $33 per share on October 11. b. Sold 1,200 treasury shares on November 1 for $39 cash per share. c. Sold all remaining treasury shares on November 25 for $32 cash per share. 1 No Transaction General Journal a Treasury stock Cash Show less A Debit Credit 191,400 191,400 2 b. Cash 46,800 Treasury stock Paid-in capital, treasury stock 39,600 7,200 3 C Cash Paid-in capital, treasury stock Retained earnings Treasury stock Required 1 Required 2> 128,800 x 7,200 15,800x 151,800