Grouper Inc. recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about corporation accounting. During the first month, he made the following entries for the corporations capital stock.

Date	Account Titles and Explanation	Debit	Credit
May 2	Cash	192,000
	Capital Stock		192,000
	(Issued 12,000 shares of $5 par value common stock at $16 per share)
May 10	Cash	600,000
	Capital Stock		600,000
	(Issued 10,000 shares of $30 par value preferred stock at $60 per share)
May 15	Capital Stock	18,000
	Cash		18,000
	(Purchased 1,200 shares of common stock for the treasury at $15 per share)
May 31	Cash	11,210
	Capital Stock		5,900
	Gain on Sale of Stock		5,310
	(Sold 590 shares of treasury stock at $19 per share)

On the basis of the explanation for each entry, prepare the entries that should have been made for the capital stock transactions.