Sheridan Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $105,000 (a) Prepare the journal entry for the issuance when the market price of the common shares is $172 each and market price of the preferred is $215 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $180 per share. (Round answers to decimal places, e.g. $1,225. 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 tities and enter o for the amounts.) No. Account Titles and Explanation Debit Credit (a) Cash Common Stock Paid-in Capital in Excess of Par. Common Stock Preferred Stock Pald-in Capital in Excess of Par - Preferred Stock (b) Cash Common Stock Paid-in Capital in Excess of Par - Common Stock Preferred Stock Paid-in Capital in Excess of Par - Preferred Stock