Exercise 11-3 Recording stock issuances LO P1 Prepare journal entries to record the following four separate issuances of stock. A corporation issued 3,000 shares of $20 par value common stock for $72,000 cash. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $59,500. The stock has a $4 per share stated value. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $59,500. The stock has no stated value. A corporation issued 750 shares of $50 par value preferred stock for $97,000 cash.