Sheffield Corp. was organized on January 1, 2022. It is authorized to issue 21,300 shares of 7%, $53 par value preferred stock and 465,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year.

Journalize the 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 0 for the amounts.)

Jan.	10		Issued 72,500 shares of common stock for cash at $5 per share.
Mar.	1		Issued 1,250 shares of preferred stock for cash at $56 per share.
May	1		Issued 117,500 shares of common stock for cash at $6 per share.
Sept.	1		Issued 5,500 shares of common stock for cash at $9 per share.
Nov.	1		Issued 3,500 shares of preferred stock for cash at $60 per share.