On October 10, the stockholders equity section of Sherman Systems appears as follows.

Common stock$10 par value, 72,000 shares authorized, issued, and outstanding	$ 720,000
Paid-in capital in excess of par value, common stock	216,000
Retained earnings	864,000
Total stockholders equity	$ 1,800,000

1. Prepare journal entries to record the following transactions for Sherman Systems.

1. Purchased 5,000 shares of its own common stock at $25 per share on October 11.
2. Sold 1,000 treasury shares on November 1 for $31 cash per share.
3. Sold all remaining treasury shares on November 25 for $24 cash per share.

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

Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,000 shares of its own common stock at $25 per share on October 11. b. Sold 1,000 treasury shares on November 1 for $31 cash per share. c. Sold all remaining treasury shares on November 25 for $24 cash per share.

x Answer is not complete. on by entering your answers in the tabs below. to record the following transactions for Sherman Systems. res of its own common stock at $25 per share on October 11. shares on November 1 for $31 cash per share. asury shares on November 25 for $24 cash per share. Show less A