During 2022, the following transactions occurred.

1.		On January 1, Sheffield issued 2,520 shares of $40 par, 7% preferred stock for $103,320.
2.		On January 1, Sheffield also issued 1,890 shares of the $10 par value common stock for $44,100.
3.		Sheffield performed services for $672,000 on account.
4.		On April 1, 2022, Sheffield collected fees of $75,600 in advance for services to be performed from April 1, 2022, to March 31, 2023.
5.		Sheffield collected $579,600 from customers on account.
6.		Sheffield bought $73,710 of supplies on account.
7.		Sheffield paid $67,620 on accounts payable.
8.		Sheffield reacquired 840 shares of its common stock on June 1 for $28 per share.
9.		Paid other operating expenses of $395,220.
10.		On December 31, 2022, Sheffield declared the annual preferred stock dividend and a $1.20 per share dividend on the outstanding common stock, all payable on January 15, 2023.
11.		An account receivable of $3,570 which originated in 2022 is written off as uncollectible. Prepare journal entries for the transactions listed above and adjusting entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)