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ework 162 mghmiddlewar22 Seved Exercise 11-12 Recording and reporting treasury stock transactions LO P3 On October 10, the stockholders' equity of Sherman Systems appears as follows. Common Stock-$10 par value, 74,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 740,000 226,000 880,000 $1,846,000 1. Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 5,200 shares of its own common stock at $27 per share on October 11. b. Sold 1,050 treasury shares on November 1 for $33 cash per share. c. Sold all remaining treasury shares on November 25 for $22 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. Required 1 Required 2 Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 5,200 shares of its own common stock at $27 per share on October 11. b. Sold 1,050 treasury shares on November 1 for $33 cash per share. c. Sold all remaining treasury shares on November 25 for $22 cash per share. Show less View transaction list Required 1 Required 2 Prepare journal entries to record the following transactions for Sherman Systems a. Purchased 5,200 shares of its own common stock at $27 per share on October 11. b. Sold 1,050 treasury shares on November 1 for $33 cash per share. c. Sold all remaining treasury shares on November 25 for $22 cash per share. Show less View transaction list Journal entry worksheet HUGUI Required Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,200 shares of its own common stock at $27 per share on October 11. b. Sold 1,050 treasury shares on November 1 for $33 cash per share. c. Sold all remaining treasury shares on November 25 for $22 cash per share. Show les View transaction list Journal entry worksheet