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Return to question On October 10, the stockholders' equity section of Sherman Systems appears as follows, Common stock-$10 par value, 4,375 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 770,000 241,000 904,000 $ 1,915,000 1. Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 5,500 shares of its own common stock at $30 per share on October 11. b. Sold 1,125 treasury shares on November 1 for $36 cash per share. c. Sold all remaining treasury shares on November 25 for $29 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. Answer is not complete. 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 5,500 shares of its own common stock at $30 per share on October 11. b. Sold 1,125 treasury shares on November 1 for $36 cash per share. c. Sold all remaining treasury shares on November 25 for $29 cash per share. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,500 shares of its own common stock at $30 per share on October 11. b. Sold 1,125 treasury shares on November 1 for $36 cash per share, c. Sold all remaining treasury shares on November 25 for $29 cash per share. Show less No Credit Transaction General Journal Debit 165,000 1 a Treasury stock O Cash 165,000 2 b. 40,500 Cash Troasury stock Paid-in capital, treasury stock 33,750 6,750 000 OOO 3 c. 126,875 Cash Paid-in capital, treasury stock Treasury stock 4,375 131,250 Required 1 Required 2 >