Sheridan Inc issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a iump sum of $107,000. a. Prepare the journal entry for the issuance when the market price of the common shares is $168 each and market price of the preferred is $210 each. b. Prepare the journal entry for the issuance when only the market peice of the common steck is known and it is 5184 per share. Yist all debit entries before credit entries. Do not round intermediate calculations. Round final answers to 0 decimal places, es. 1.225. Credit. occount titles are automatically indented when the amount is entered. Do not indent manualih. If no entry is required, select "No Entry" for the account tities and enter 0 for the omounts. No. Account Titles and Explanation Debit Credit a. Cash Common Stock Paid-in Copital in Excess of Par-Cormmon Stock Preferred stock Paid-in Capital in Excess of Par-Preferred Stock b. Cash Commonstock Paid-in Capital in Excess of Par - Common Stock Preferred stock Pald-in Capital in Excess of Par-Preferred Stock Sheridan Inc issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a iump sum of $107,000. a. Prepare the journal entry for the issuance when the market price of the common shares is $168 each and market price of the preferred is $210 each. b. Prepare the journal entry for the issuance when only the market peice of the common steck is known and it is 5184 per share. Yist all debit entries before credit entries. Do not round intermediate calculations. Round final answers to 0 decimal places, es. 1.225. Credit. occount titles are automatically indented when the amount is entered. Do not indent manualih. If no entry is required, select "No Entry" for the account tities and enter 0 for the omounts. No. Account Titles and Explanation Debit Credit a. Cash Common Stock Paid-in Copital in Excess of Par-Cormmon Stock Preferred stock Paid-in Capital in Excess of Par-Preferred Stock b. Cash Commonstock Paid-in Capital in Excess of Par - Common Stock Preferred stock Pald-in Capital in Excess of Par-Preferred Stock