Exercise 11-3 Recording stock issuances LO P1 Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 10,000 shares of $20 par value common stock for $240,000 cash. 2. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $57,000. The stock has a $1 per share stated value. 3. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $57,000. The stock has no stated value. 4. A corporation issued 2,500 shares of $50 par value preferred stock for $182,000 cash. View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 2 2 No Transaction Recorded 3 3 No Transaction Recorded 4 4 No Transaction Recorded