Question 2 of 6 - 71 View Polides Current Attempt in Progress 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 Si preferred shares. It had the following share transactions during the year Jan. 12 Issued 50,000 common shares for $5 per share Issued 950 common shares in payment of a $4.450 bill for legal services Issued 1,000 preferred shares for $25 per share July 11 Oct 1 Issued 10,000 common shares in exchange for land. The lane's fair value was estimated to be $54,800. Sheffield's accountant estimated that the fair value of the shares issued might be as high as $6 pershare. Journalize the share transactions. (Credit account 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.) Date Account Titles and Explanation Debit Credit To record issuance of shares. To record issuance of shares. (To record issuance of shares. To record issuance of shares.) (To record issuance of shares. (To record issuance of shares. (To record issuance of shares. To record issuance of shares. eTextbook and Media List of Accounts Calculate the average per share amount for the common shares. (Round answer to 2 decimal places.eg. 52.76.) Average cost S e Textbook and Media List of Accounts