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Exercise 11-13 (Algo) Recording and reporting treasury stock transactions LO P3 $.790,000 251,000 920,000 $ 1,961,000 On October 10, the stockholders' equity section of Sherman Systems appears as follows Common stock - $10 par value, 4,525 shares authorized, issued, and outstanding Paid-in capital in excess of par value, Connon stock Retained earnings Total stockholders' equity 1. Prepare journal entries to record the following transactions for Sherman Systems o. Purchased 5,700 shares of its own common stock at $32 per share on October 11 b. Sold 1,175 treasury shares on November 1 for $38 cash per share. c. Sold all remaining treasury shares on November 25 for $31 cash per share 2. Prepare the stockholders' equity section after the October 11 treasury stock purchase ntering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 5,700 shares of its own common stock at $32 per share on October 11, b. Sold 1,175 treasury shares on November 1 for $38 cash per share. c. Sold all remaining treasury shares on November 25 for $31 cash per share. Show less tes View transaction list Journal entry worksheet 2 3 Record the purchase of 5,700 shares of its own common stock for $32 cash per share. 2 3 Record the purchase of 5,700 shares of its own common stock for $32 cash per share. Note: Enter debits before credits, Transaction General Journal Debit Gredit Record entry Clear entry View general journal

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