Your answer is partially correct. Try again. 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 $117,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $176 each and market price of the preferred is $220 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $204 per share. (Round answers to o 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 titles and enter o for the amounts.) No. Account Titles and Explanation Debit Credit (a) Cash 117000 Paid-in Capital in Excess of Par - Common 52000 Common Stock 10000 Paid-in Capital in Excess of Par - Preferred Stoc Preferred Stock Click if you would like to Show Work for this question: Open Show Work