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

Rodriguez Corporation issues $10,000$ shares of its common stock for $$199,300$ cash on February $20.$ Prepare journal entries to record

this event under each of the following separate situations.

The stock has a $$16$ par value.

The stock has neither par nor stated value.

The stock has a $$8$ stated value.

Journal entry worksheet

A

B

C

Record the issue of $10,000$ shares of $$16$ par value common stock for

$$199,300$ cash.

Note: Enter debits before credits.