$1.$ On July $6,$ Sheffield Company acquired the plant assets of Doonesbury Company, which had discontinued operations. The appraised value of the property is:

Land

$$300,000$

Buildings

$900,000$

Equipment

$600,000$

Total

$$1,800,000$

Sheffield Company gave $12,300$ shares of its $$100$ par value common stock in exchange. The stock had a market price of $$168$ per share on the date of the purchase of the property.

$2.$ Sheffield Company expended the following amounts in cash between July $6$ and December $15,$ the date when it first occupied the building.

Repairs to building

Construction of bases for equipment to be installed later

Driveways and parking lots

Remodeling of office space in building, including new partitions and walls

Special assessment by city on land

$$231,000$

$297,000$

$268,400$

$354,200$

$39,600$

$3.$ On December $20,$ the company paid cash for equipment, $$572,000,$ subject to a $2\%$ cash discount, and freight on equipment of $$23,100.$

Prepare entries on the books of Sheffield Company for these transactions.