Jan. 12 Sheffield Corp. a private corporation, received its articles of incorporation on January 3 2021. It is authorized to issue an unlimited number of common shares and $1 preferred shares. It had the following share transactions during the year: Issued 50,000 common shares for $5 pet share. 24 Issued 950 common shares in payment of a $4.450 bill for legal services. July 11 Issued 1.000 preferred shares for $25 per share. Oct. 1 Issued 10.000 common shares in exchange for land. The land's fair value was estimated to be $55.900. Sheffield's accountant estimated that the fair value of the shares issued might be as high as $6 per share. Journalize the share transactions. (Credit occount titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Debit Credit Date Account Titles and Explanation Ian 12 To record issuance of shares