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Only need help with C. Will rate On October 10, the stockholders' equity section of Sherman Systems appears as follows. begin{tabular}{lr} Common stock- $10 par
Only need help with "C". Will rate
On October 10, the stockholders' equity section of Sherman Systems appears as follows. \begin{tabular}{lr} Common stock- $10 par value, 5,500 shares authorized, issued, and outstanding & $920,000 \\ Paid-in capital in excess of par value, common stock & 316,000 \\ Retained earnings & $2,024,000 \\ Total stockholders' equity & $2,260,000 \\ \hline \hline \end{tabular} 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,000 shares of its own common stock at $45 per share on October 11. b. Sold 1,500 treasury shares on November 1 for $51 cash per share. c. Sold all remaining treasury shares on November 25 for $44 cash per share. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,000 shares of its own common stock at $45 per share on October 11. b. Sold 1,500 treasury shares on November 1 for $51 cash per share. c. Sold all remaining treasury shares on November 25 for $44 cash per shareStep by Step Solution
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