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.

Journalize the transactions, assuming that the common stock has a par value of $$5$ per share. $($Record joumal 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

Cash

Common Stock

Common Stock

Paid$-$in Capital in Excess of Par$-$Common Stock

$$372,500$

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