e following formation applies to the questions displayed b below.] Following are the issuances of stock transactions. 1. A corporation issued 10,000 shares of $10 par value common stock for $120,000 cash. 2. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $35,500. The stock has a $1 per share stated value. 3. A corporation issued 5,000 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 2,500 shares of $25 par value preferred stock for $98,000 cash. Journal entry worksheet A B C Record the issue of 10,000 shares of $10 par value common stock for $120,000 cash. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit View general journal Record entry Clear entry > Journal entry worksheet < A B C Record the issue of 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $35,500. The stock has a $1 per share stated value. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit View general journal Record entry Clear entry Journal entry worksheet < A B C D Record the issue of 5,000 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 3 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet < A B C Record the issue of 2,500 shares of $25 par value preferred stock for $98,000 cash. Note: Enter debits before credits. Transaction 4 General Journal Debit Credit View general journal Record entry Clear entry