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Prepare the necessary journal entry for each of the following transactions for Sheridan Corporation. (List all debit entries before credit entries. Credit account titles are

Prepare the necessary journal entry for each of the following transactions for Sheridan Corporation. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (a) Issued 2,400 shares of its $10 par value common stock for $21 per share. (b) Issued 6,000 shares of its stock for land advertised for sale at $94,500. Sheridan's stock is currently actively traded at a market price of $17 per share. No. Account Titles and Explanation (a) (b) Debit Credit

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