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

Rodriguez Corporation issues $19,000$ shares of its common stock for $$292,600$ cash on February $20.$ Prepare journal entries to record

this event under each of the following separate situations.

The stock has a $$14$ par value.

The stock has neither par nor stated value.

The stock has a $$7$ stated value.

Journal entry worksheet

Record the issue of $19,000$ shares of $$14$ par value common stock for

$$292,600$ cash.

Note: Enter debits before credits.

Journal entry worksheet

Record the issue of $19,000$ shares of no$-$par, no$-$stated value common stock for

$$292,600$ cash.

Note: Enter debits before credits.

Journal entry worksheet

Record the issue of $19,000$ shares of $$7$ stated value common stock for

$$292,600$ cash.

Note: Enter debits before credits.