On October 10, the stockholders equity section of Sherman Systems appears as follows. Common stock$10 par value, 5,200 shares authorized, issued, and outstanding $ 880,000 Paid-in capital in excess of par value, common stock 296,000 Retained earnings 992,000 Total stockholders equity $ 2,168,000 1. Prepare journal entries to record the following transactions for Sherman Systems. Purchased 6,600 shares of its own common stock at $41 per share on October 11. Sold 1,400 treasury shares on November 1 for $47 cash per share. Sold all remaining treasury shares on November 25 for $40 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase.

Record the reissue of the remaining shares of the treasury stock for $40 cash per share.

Prepare the stockholders' equity section after the October 11 treasury stock purchase.