During its first year of operations, Sheffield Corp. had these transactions pertaining to its common stock.

Issued $40,000$ shares for cash at $$6$ per share.

Issued $69,000$ shares for cash at $$8$ per share.

Jan.

July

$10$

$1$

Date

$($a$)$

Journalize the transactions, assuming that the common stock has a par value of $$6$ per share. $($Record journal entries in the order

presented in the problem. 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 O for the amounts.$)$

Account Titles and Explanation

Debit

Credit

V

VDuring its first year of operations, Sheffield Corp. had these transactions pertaining to its common stock.

Jan. $10$ Issued $40,000$ shares for cash at $$6$ per share.

July $1$ Issued $69,000$ shares for cash at $$8$ per share.

$($a$)$

Journalize the transactions, assuming that the common stock has a par value of $$6$ per share. $($Record journal entries in the order

presented in the problem. 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.$)$

Date

Account Titles and Explanation

Debit

Credit