During its first year of operations, Sheridan Company had these transactions pertaining to its common stock.

Jan. $10$ Issued $41,000$ shares for cash at $$5$ per share.

July $1$ Issued $74,500$ shares for cash at $$10$ per share.

Your answer is correct.

Journalize the transactions, assuming that the common stock has a par value of $$5$ 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.$)$

$($b$)$

Journalize the transactions, assuming that the common stock is no$-$par with a stated value of $$1$ 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