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

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Prepare the necessary journal entry for each of the following transactions for Shefficld Corporation. (Uist all debit entries before credit entries, Credit account titles are cautomatically indented when the amount is entered. Do not indent manually. (a) Issued 2.500 shares of its $10 par value commonstock for $20 per share. (b) Issued 5,100 shares of its stock for land advertised for sale at 591,500 . Sheffeld s stock is currently actively traded at a market price of $16 per share

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