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On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 89,000 shares authorized, issued, and outstanding $ 890,000 Paid-in capital in excess of par value, common stock 301, 000 Retained earnings 1,000,000 Total stockholders' equity $2, 191, 000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 6,700 shares of its own common stock at $42 per share on October 11. b. Sold 1,425 treasury shares on November 1 for $48 cash per share. c. Sold all remaining treasury shares on November 25 for $37 cash per share. 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the stockholders' equity section after the October 11 treasury stock purchase. Revised Equity Section of Balance Sheet After October 11 Common stock, $10 par $ 890,000 Paid-in capital in excess of par value, common stock 301,000 Total contributed capital , 191,000 Retained earnings 1,000,000 Total 2, 191,000 Less: Cost of treasury stock Total stockholders' equity $ 2,191,000 Complete thls question by entering your answers In the tabs below. Required 1 Required 2 Prepare Journal entries to record the followlng transactions for Sherman Systems. a. Purchased 6,700 shares of HE. own common stock at $42 per share on October 11. b. Sold 1,425 treasury share on November 1 For $48 cash per share. 1:. Sold all remalnlng treasury shares on November 25 for $37 cash per share. Viewjournal entry worksheet Show last 281 ,400 231.400 Cash Paidin capital, treasury stock Treasury stock Paidin capital, treasury stock Required 2 5