Sheffield Corp. 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 his textbooks on the topic of corporation accounting. During the first month, the accountant made the following entries for the corporation's capital stock. May 2 Cash 150,800 Capital Stock (Issued 11,600 shares of $10 par value common stock at $13 per share) 150,800 10 Cash 754,000 Capital Stock (Issued 11,600 shares of $55 par value preferred stock at $65 per share) 754,000 21,000 15 Capital Stock Cash 21,000 (Purchased 1,400 shares of common stock for the treasury at $15 per share) 31 Cash 3,200 Capital Stock Gain on Sale of Stock (Sold 200 shares of treasury stock at $16 per share) 2,000 1,200 On the basis of the explanation for each entry, prepare the entry that should have been made for the capital stock transactions. (Record journal entries in the order presented in the problem. 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 O for the amounts.) Debit Account Titles and Explanation Credit Date