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

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Accounting

During its first year of operations, Sheffield Corporation hadthe following transactions pertaining to its common stock. Jan. 10Issued 69,500 shares for cash at $5 per share. July 1 Issued 40,500shares for cash at $8 per share.
a. Journalize the transactions, assuming that the common stockhas a par value of $5 per share
. b. Journalize the transactions, assuming that the common stockis no-par with a stated value of $2 per share

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During its first year of operations, Sheffield Corporation hadthe following transactions pertaining to its common stock. Jan. 10Issued 69,500 shares for cash at $5 per share. July 1 Issued 40,500shares for cash at $8 per share.a. Journalize the transactions, assuming that the common stockhas a par value of $5 per share. b. Journalize the transactions, assuming that the common stockis no-par with a stated value of $2 per share