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

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

Common stock–$10 par value, 88,000 shares
authorized, issued, and outstanding		 $ 880,000
Paid-in capital in excess of par value, common stock 296,000
Retained earnings 992,000
Total stockholders’ equity $ 2,168,000


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

Purchased 6,600 shares of its own common stock at $41 per share on October 11.

Sold 1,400 treasury shares on November 1 for $47 cash per share.

Sold all remaining treasury shares on November 25 for $36 cash per share.

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