Larkspur 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 corporation's 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 600,000 Capital Stock 600,000 (Issued 10,000 shares of $30 par value preferred stock at $60 per share) May 15 Capital Stock 12,000 Cash 12,000 (Purchased 800 shares of common stock for the treasury at $15 per share) May 31 Cash 12,060 Capital Stock 6,700 Gain on Sale of Stock 5,360 (Sold 670 shares of treasury stock at $18 per share) On the basis of the explanation for each entry, prepare the entries that should have been made for the capital stock transactions. (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 for the amounts.) Date Account Titles and Explanation Debit Credit