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On October 10, the stockholders' equlty of Sherman Systems appears as follows. Common stock-$10 par value, 75,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 758,899 231,089 888,888 $ 1,869,000 1. Prepare Journal entries to record the following transactions for Sherman Systems. a. Purchased 5,300 shares of its own common stock at $28 per share on October 11. b. Sold 1,075 treasury shares on November 1 for $34 cash per share. c. Sold all remaining treasury shares on November 25 for $23 cash per share. 2 Prepare the stockholders' equity section after the October 11 treasury stock purchase. Journal entry worksheet Record the purchase of 5,300 shares of its own common stock for $28 cash per share. Enter debits edit Transaction General Joumal Debit Credit 3 Record entry Chucky View general journal Required 2 > Journal entry worksheet 3 Im > Record the reissue of 1,075 shares of the treasury stock for $34 cash per share. NALE. Enter debits before credits Transaction General Journal Debit Credit Record entry Clear only View general Required 2 > Journal entry worksheet Record the reissue of the remaining shares of the treasury stock for $23 cash per share, Note: Enter achits before credits Transaction General Journal Debit Credit c Record entry Ciononty View general journal Required 2 > 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 Total contributed capital Total Total stockholders' equity

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