uring its first year of operations, Sheffield Corporation had the following transactions pertaining to its common stock.

Jan. $10$ Issued $80,700$ shares for cash at $$6$ per share.

Mar. $1$ Issued $5,000$ shares to attorneys in payment of a bill for $$37,300$ for services rendered in helping the company to incorporate.

July Issued $32,600$ shares for cash at $$8$ per share.

Sept. $1$ Issued $63,600$ shares for cash at $$10$ per share.

a$)$

Prepare the journal entries for these transactions, assuming that the common stock has a par value of $$5$ per share. $($List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Record entries in the order displayed in the problem statement.$)$

Date

Account Titles and Explanation

Debit

Credit