1. A corporation issued 4,000 shares of $5 par value common stock for $24,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $35,500. The stock has a $2 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $35,500. The stock has no stated value. 4. A corporation Issued 1,000 shares of $50 par value preferred stock for $85,500 cash. Record the issue of 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $35,500. The stock has no stated value. Note: Enter debits before credits. Transaction General Journal Dobit Credit 3 { D Record the issue of 1,000 shares of $50 par value preferred stock for $85,500 cash Note: Enter debits before credits. General Journal Dobit Credit Transaction 4