On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value, 4,975 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 6,300 shares of its own common stock at $38 per share on October 11. b. Sold 1,325 treasury shares on November 1 for $44 cash per share. c. Sold all remaining treasury shares on November 25 for $37 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. $ 850,000 281,000 968,000 $ 2,099,000 Answer is not complete. 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 6,300 shares of its own common stock at $38 per share on October 11. b. Sold 1,325 treasury shares on November 1 for $44 cash per share. c. Sold all remaining treasury shares on November 25 for $37 cash per share. No 1 Transaction General Journal a. Treasury stock Cash 2 b. Cash Paid-in capital, treasury stock Retained earnings Treasury stock 3 C. Common stock, $10 par value Paid-in capital in excess of par value, common stock Show les Debit 239,400 Credit 239,400 164,175 x 7,950 16,925x 189,050