Sherman Systems appears as follows. Common stock-$10 par value, 5,350 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 900,000 306,000 1,098,080 $ 2,214,000 1. Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 6,800 shares of its own common stock at $43 per share on October 11. b. Sold 1,450 treasury shares on November 1 for $49 cash per share, c. Sold all remaining treasury shares on November 25 for $42 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase Answer is not complete. non stock at $43 per share on October 11. b. Sold 1.450 treasury shares on November 1 for $49 cash per share. c. Sold all remaining treasury shares on November 25 for $42 cash per share. Show Transaction General Journal Debit Credit a Treasury stock Cash 292.400 >> 292,400 2 b Cash 71.050 Paid in capital treasury stock Treasury stock 8,700 62,350 3 Cash Paid in capital, treasury stock Retained earnings Treasury Stock >> 203,300 8.700 18.050 230,050