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Following are the issuances of stock transactions.

A corporation issued 7,000 shares of $20 par value common stock for $168,000 cash.

A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $42,000. The stock has a $1 per share stated value.

A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $42,000. The stock has no stated value.

A corporation issued 1,750 shares of $25 par value preferred stock for $85,750 cash.

Prepare journal entries to record each of the following four separate issuances of stock.

Journal entry worksheet

Record the issue of 7,000 shares of $20 par value common stock for $168,000 cash.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
1