Exercise $11-3($Algo$)$ Accounting for par, stated, and no$-$par stock issuances LO P$1$

Rodriguez Corporation issues $13,000$ shares of its common stock for $$75,900$ cash on February $20.$ Prepare journal entries to record this event under each of the following separate situations.

The stock has a $$4$ par value.

The stock has neither par nor stated value.

The stock has a $$2$ stated value.

Journal entry worksheet

B

C

A

B

C

Record the issue of $13,000$ shares of $$4$ par value common stock for $$75,900$ cash.

Note: Enter debits before credits.

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