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please help with the errors On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 82,000 shares authorized, issued,

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On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 82,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 820,000 266,000 944,000 $ 2,030,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,000 shares of its own common stock at $35 per share on October 11. b. Sold 1,250 treasury shares on November 1 for $41 cash per share. c. 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. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,000 shares of its own common stock at $35 per share on October 11. b. Sold 1,250 treasury shares on November 1 for $41 cash per share. c. Sold all remaining treasury shares on November 25 for $30 cash per share. Show le No Transaction General Journal Debit Credit 1 a. 210,000 Treasury stock Cash 210,000 2 b. 51,250 Cash Treasury stock Paid-in capital, treasury stock 43,750 7,500 3 . 142,500 Cash Paid-in capital, treasury stock Treasury stock 23.750 X 118.750 Required 2 >

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