Exercise 11-3 Recording stock issuances LO P1 Prepare journal entries to record the following four separate Issuances of stock 1. A corporation Issued 6,000 shares of $10 par value common stock for $72,000 cash. 2. A corporation Issued 3,000 shares of no-par common stock to its promoters In exchange for thelr efforts, estimated to be worth $38,000. The stock has a $1 per share stated value. 3. A corporation Issued 3,000 shares of no-par common stock to its promoters In exchange for their efforts, estimated to be worth $38,000. The stock has no stated value. 4. A corporatlon issued 1,500 shares of $50 par value preferred stock for $113,000 cash. View transaction list Journal entry worksheet 4 Record the issue of 1,500 shares of $50 par value preferred stock for $113,000 cash Note: Enter debits before credits. Transaction General Journal DebitCredit Record entry Clear entry View general journal