On January 1, 2020, Sheffield Corp. had 77.000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred Mar. 1 June 1 June 30 Dec. 1 Dec. 15 Issued 96,000 shares of common stock for $678,000 Declared a cash dividend of $2.00 per share to stockholders of record on June 15. Paid the $2.00 cash dividend Purchased 7,000 shares of common stock for the treasury for $19 per share Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31 Net income for 2020 amounted to $942.000 Prepare journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. De nyt indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account cities and enter for the amounts.) Date Account Titles and Explanation Debit Credit