Ivanhoe 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	204,000
	Capital Stock		204,000
	(Issued 12,000 shares of $5 par value common stock at $17 per share)
May 10	Cash	800,000
	Capital Stock		800,000
	(Issued 10,000 shares of $40 par value preferred stock at $80 per share)
May 15	Capital Stock	14,400
	Cash		14,400
	(Purchased 900 shares of common stock for the treasury at $16 per share)
May 31	Cash	11,200
	Capital Stock		5,600
	Gain on Sale of Stock		5,600
	(Sold 560 shares of treasury stock at $20 per share)

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