ement Exero eBook Calculator Instructions General Journal Instructions stated Value, Common and preferred Stock, and Noncash Assets 1. Prepare general journal entries for these transactions, identifying each by letter. If an amount box does not require an entry, leave it blank. Kris Kraft Stores had the following stock transactions during the year: (a) Issued 3,700 shares of no-par common stock with a stated value of $10 per share for $37,000 cash. (b) Issued 6,000 shares of no-par common stock with a stated value of $8 per share for $50,450 cash. (c) Issued 4,700 shares of no-par, 6% preferred stock with a stated value or $15 per share ror $70,500 cash. (d) Issued 9,900 shares of $5 par common stock for land with a fair market value of $49,500 (e) Issued 9,700 shares of $7 par common stock with a $9 fair market value for a building with an uncertain fair market value (f) issued 7,900 shares of $50 par, 8% preferred stock for land with a fair market value of $399,750