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 what he had learned earlier about corporation accounting. During the first month, he made the following entries for the corporations capital stock.

May 2		Cash		124,600
		Capital Stock				124,600
		(Issued 8,900 shares of $10 par value common stock at $14 per share)
10		Cash		672,000
		Capital Stock				672,000
		(Issued 12,000 shares of $17 par value preferred stock at $56 per share)
15		Capital Stock		8,700
		Cash				8,700
		(Purchased 580 shares of common stock for the treasury at $15 per share)

On the basis of the explanation for each entry, prepare the entries that should have been made for the capital stock transactions.