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Exercise 1114 (Algo) Recording and reporting treasury stock transactions LO P3 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,300 shares of its own common stock hat $48 per share on October 11. b. Sold 1,575 treasury shares on November 1 for $54 cash per share. c. Sold all remaining treasury shares on November 25 for $43 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. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,300 shares of its own common stock at $48 per share on October 11 . b. Sold 1,575 treasury shares on November 1 for $54 cash per share. c. Sold all remalning treasury shares on November 25 for $43 cash per share. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,300 shares of its own common stock at $48 per share on October 11 . b. Sold 1,575 treasury shares on November 1 for $54 cash per share. c. Sold all remaining treasury shares on November 25 for $43 cash per share. Journal entry worksheet 2 Record the purchase of 7,300 shares of its own common stock for $48 cash per share. Note: Enter debits before credits. 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7,300 shares of its own common stock at $48 per share on October 11. b. Sold 1,575 treasury shares on November 1 for $54 cash per share. c. Sold all remaining treasury shares on November 25 for $43 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. Prepare the stockholders' equity section after the October 11 treasury stock purchase

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