Sheffield Corporation was organized on January 1, 2022 It is authorized to issue 11,000 shares of 8 ,$100 par value preferred stock and 520,000 shares of no par common stock with a stated value of $3 per share The following stock trarsactions were completed during the first year Jan 10 Issued 75,500 shares of common stock for cash at $6 per share Mar 1 Issued 5,500 shares of preferred stock for cash at $110 per share Apr 1 Issued 22,500 shares of common stock for land The asking price of the land was $85,500 The fair value of the land was $80,000 May 1 Issued 81 500 shares of common stork for cashat $4 25 per share Aug 1 Issued 11,500 shares of common stock to attorneys in payment of their bill of $39 500 for services performed in helping the company organize Sept 1 issued 12,000 shares of common stock for cash at $6 per share Nov, 1 Issued 2,000 shares of preferred stock for cash at $110 per share Journalize the transactions (List all debit entries before credit entries Record joumal entries in the order presented in the problem Credit account titles are automatically indented when amount is entered Do not indent manuolly)

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Sheffield Corporation was organized on January 1, 2022  It is authorized to issue 11,000 shares of 8 ,$100 par value preferred stock  and 520,000 shares of no par common stock with a stated value of $3 per share  The following stock trarsactions were completed during the first year  Jan  10 Issued 75,500 shares of common stock for cash at  $6 per share  Mar  1 Issued 5,500 shares of preferred stock for cash at $110 per share  Apr  1 Issued 22,500 shares of common stock for land  The asking price of the land was $85,500  The fair value of the land was $80,000  May 1 Issued 81 500 shares of common stork for cashat $4 25 per share  Aug  1 Issued 11,500 shares of common stock to attorneys in payment of their bill of $39 500 for services performed in helping the company organize  Sept  1 issued 12,000 shares of common stock for cash at $6 per share  Nov, 1 Issued 2,000 shares of preferred stock for cash at $110 per share Journalize the transactions  (List all debit entries before credit entries  Record joumal entries in the order presented in the problem  Credit account titles are automatically indented when amount is entered  Do not indent manuolly)

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Sheffield Corporation was organized on January 1, 2022. It is authorized to issue 11,000 shares of 8%,$100 par value preferred stock. and 520,000 shares of

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