Sheridan Inc. recently hired a new accountant with extensive experience in accounting for partnerships. Because of the pressure of the new job, the accountant was unable to review what he had learned earlier about corporation accounting. During the first month, he made the following entries for the corporations capital stock.

Date	Account Titles and Explanation	Debit	Credit
May 2	Cash	208,000
	Capital Stock		208,000
	(Issued 13,000 shares of $5 par value common stock at $16 per share)
May 10	Cash	660,000
	Capital Stock		660,000
	(Issued 11,000 shares of $30 par value preferred stock at $60 per share)
May 15	Capital Stock	14,400
	Cash		14,400
	(Purchased 900 shares of common stock for the treasury at $16 per share)
May 31	Cash	13,500
	Capital Stock		7,500
	Gain on Sale of Stock		6,000
	(Sold 750 shares of treasury stock at $18 per share)

On the basis of the explanation for each entry, prepare the entries that should have been made for the capital stock transactions.