Please assist and help break down the steps On October 10, the stockholders' equity section of Sherman Systems appears as follows Common stock $10 par value, 4,450 shares authorized, issued, and outstanding $ 780,000 Paid in capital in excess of par value, common stock 246,000 Retained earnings 912,000 Total stockholders' equity $ 1,938,000 1 Prepare journal entries to record the following transactions for Sherman Systems Purchased 5,600 shares of its own common stock at $31 per share on October 11 Sold 1,150 treasury shares on November 1 for $37 cash per share Sold all remaining treasury shares on November 25 for $30 cash per share 2 Prepare the stockholders' equity section after the October 11 treasury stock purchase Journal entry worksheet 2 3 Record the purchase of 5,600 shares of its own common stock for $31 cash per share Note Enter debits before credits Transaction General Journal Debit Credit a Record entry Clear entry View general journal

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Question: Please assist and help break down the steps. On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common stock-$10 par value,

Please assist and help break down the steps.

On October 10, the stockholders' equity section of Sherman Systems appears as follows.

Common stock-$10 par value, 4,450 shares authorized, issued, and outstanding	$ 780,000
Paid-in capital in excess of par value, common stock	246,000
Retained earnings	912,000
Total stockholders' equity	$ 1,938,000

1. Prepare journal entries to record the following transactions for Sherman Systems.

Purchased 5,600 shares of its own common stock at $31 per share on October 11.
Sold 1,150 treasury shares on November 1 for $37 cash per share.
Sold all remaining treasury shares on November 25 for $30 cash per share.

2. Prepare the stockholders' equity section after the October 11 treasury stock purchase.

Please assist and help break down the steps.On October 10, the stockholders'

Journal entry worksheet 2 3 Record the purchase of 5,600 shares of its own common stock for $31 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal

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