completion. Following are the issuances of stock transactions. 1. A corporation issued 4,000 shares of $20 par value common stock for $96,000 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 $47,500. 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 $47,500. The stock has no stated value. 4. A corporation issued 1,000 shares of $50 par value preferred stock for $97,500 cash. Prepare journal entries to record each of the following four separate issuances of stock. Answer is not complete. No A Transaction 1 Cash B 2 General Journal Common stock, $20 par value Paid-in capital in excess of par value, Common stock Organization expenses Common stock, $2 stated value Paid-in capital in excess of stated value, common stock 100 Debit Credit 96,000 8,000 16,000 47,500 4,000 43,500 Return to q