On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value, 5,650 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 940,000 326, eee 1,040, see $ 2,306,eee 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,200 shares of its own common stock at $47 per share on October 11. b. Sold 1,550 treasury shares on November 1 for $53 cash per share. c. Sold all remaining treasury shares on November 25 for $46 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. 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 7,200 shares of its own common stock at $47 per share on October 11. b. Sold 1,550 treasury shares on November 1 for $53 cash per share. c. Sold all remaining treasury shares on November 25 for $46 cash per share. Show less View transaction list Journal entry worksheet Record the purchase of 7,200 shares of its own common stock for $47 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit 2. Record entry Clear entry View general journal