Journal entries to record the issuance of capital stock. Prepare journal entries to record the issuance of capital stock in each of the independent cases below. You may omit explanations for the journal entries. A firm does the following:

a. Issues 50,000 shares of \(\$ 5\)-par value common stock for \(\$ 30\) per share.

b. Issues 20,000 shares of \(\$ 100\)-par value convertible preferred stock at par.

c. Issues 16,000 shares of \(\$ 10\)-par value common stock in the acquisition of a patent. The shares of the firm traded on a stock exchange for \(\$ 15\) per share on the day of the transaction. The seller listed the patent for sale at \(\$ 250,000\).

d. Issues 25,000 shares of \(\$ 1\)-par value common stock in exchange for convertible preferred stock with a par and book value of \(\$ 400,000\). The common shares traded on the market for \(\$ 18\) per share on the date of the transaction. Use the book value method to record the conversion.

e. Issues 5,000 shares of \(\$ 10\)-par value common stock to employees as a bonus for reaching sales goals for the year. The shares traded for \(\$ 12\) per share on the day of the transaction.