5 QS 11-5 Issuance of common stock LO P1 Prepare the issuer's journal entry for each of the following separate transactions. 1.11 points 21928a. On March 1, Atlantic Co. issues 45,000 shares of $3 par value common stock for $305,000 cash. b. On April 1, OP Co. issues no-par value common stock for $75,000 cash. c. On April 6, MPG issues 2,500 shares of $25 par value common stock for $44,000 of inventory, $160,000 of machinery, and acceptance of a $94,000 note payable View transaction list View journal entry worksheet Hint No Transaction General Journal Debit Credit Cash Common stock, $3 par value Paid-in capital in excess of par value, common stock a. Print o. Cash Common stock, no-par value c. Inventory Note payable Common stock, $25 par value Paid-in capital in excess of par value, common stock