Please assist and help break down the steps.

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

Common stock-$10 par value, 4,450 shares authorized, issued, and outstanding	$ 780,000
Paid-in capital in excess of par value, common stock	246,000
Retained earnings	912,000
Total stockholders' equity	$ 1,938,000

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

1. Purchased 5,600 shares of its own common stock at $31 per share on October 11.
2. Sold 1,150 treasury shares on November 1 for $37 cash per share.
3. Sold all remaining treasury shares on November 25 for $30 cash per share.

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

Journal entry worksheet 2 3 Record the purchase of 5,600 shares of its own common stock for $31 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal