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On October 10, the stockholders equity section of Sherman Systems appears as follows. Common stock$10...

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Accounting

On October 10, the stockholders equity section of Sherman Systems appears as follows. Common stock$10 par value, 94,000 shares authorized, issued, and outstanding $ 940,000 Paid-in capital in excess of par value, common stock 326,000 Retained earnings 1,040,000 Total stockholders equity $ 2,306,000 Prepare journal entries to record the following transactions for Sherman Systems. Purchased 7,200 shares of its own common stock at $47 per share on October 11. Sold 1,550 treasury shares on November 1 for $53 cash per share. Sold all remaining treasury shares on November 25 for $46 cash per share. Prepare the stockholders' equity section after the October 11 treasury stock purchase

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