On October 10, the stockholders' equity of Sherman Systems appears as follows Common stock-$10 par...
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Accounting
On October 10, the stockholders' equity of Sherman Systems appears as follows Common stock-$10 par value, 93,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings 930,000 321,000 1,032,000 $2,283,000 Total stockholders' equity 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 7100 shares of its own common stock at $46 per share on October 11 b. Sold 1,525 treasury shares on November 1 for $52 cash per share. c. Sol all remaining treasury shares on November 25 for $41 cash per share
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