• A

  Record the issue of 5,000 shares of $10 par value common stock for $60,000 cash.

• B

  Record the issue of 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $26,500. The stock has a $1 per share stated value.

• C

  Record the issue of 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $26,500. The stock has no stated value.

• D

  Record the issue of 1,250 shares of $75 par value preferred stock for $120,250 cash.

Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 5,000 shares of $10 par value common stock for $60,000 cash. 2. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $26,500. The stock has a $1 per share stated value. 3. A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $26,500. The stock has no stated value. 4. A corporation issued 1,250 shares of $75 par value preferred stock for $120,250 cash. View transaction list Journal entry worksheet A B C D > Record the issue of 5,000 shares of $10 par value common stock for $60,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal