Exercise 11-2 Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez Corporation issues 12,000 shares of its common stock for $71,800 cash on February 20. Prepare journal entries to record this event under each of the following separate situations. The stock has a $2 par value. The stock has neither par nor stated value. The stock has a $1 stated value.

• Record the issue of 12,000 shares of $2 par value common stock for $71,800 cash.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
1

• Record the issue of 12,000 shares of no-par, no-stated value common stock for $71,800 cash.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
2

• Record the issue of 12,000 shares of $1 stated value common stock for $71,800 cash.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
3