Sheffield Corporation is authorized to issue $47,000$ shares of $$10$ par value ordinary shares. During $2022,$ Sheffield took part in the following selected transactions.

Issued $5,500$ shares at $$44$ per share, less costs related to the issuance of the shares totalling $$7,200.$

Issued $1,200$ shares for land appraised at $$47,000.$ The shares were actively traded on a national securities exchange at approximately $$45$ per share on the date of issuance.

Purchased $520$ treasury shares at $$45$ per share. The treasury shares purchased were issued in $2021$ at $$41$ per share.

$($a$)$ Prepare the journal entry to record item $1.$

$($b$)$ Prepare the journal entry to record item $2.$

$($c$)$ Prepare the journal entry to record item $3$ using the cost method.

$($Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is nequinad, select $"$No Entoy" for the account titles and enter ofor the amounts.$)$

No$.$ Account Titles and Explanation

Debit

Credit

$($a$)$

$($b$)$

$($c$)$