Exercise 11-3 Recording stock issuances LO P1 Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 2,000 shares of $20 par value common stock for $48,000 cash. 2. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $38,000. The stock has a $4 per share stated value. 3. A corporation issued 1,000 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 corporation issued 500 shares of $100 par value preferred stock for $88,000 cash View transaction list Journal entry worksheet 2 3 4 Record the issue of 2,000 shares of $20 par value common stock for $48,000 cash. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal Prey 1 of 6 !!! Next >