Exercise 11-10 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, 84,000 shares authorized, issued, and outstanding $ 840,000 paid-in capital in excess of par value, common stock 276,000 retained earnings 960,000 total stockholders’ equity $ 2,076,000 1. prepare journal entries to record the following transactions for sherman systems. purchased 6,200 shares of its own common stock at $37 per share on october 11. sold 1,300 treasury shares on november 1 for $43 cash per share. sold all remaining treasury shares on november 25 for $32 cash per share.