Exercise 11-4 Recording stock issuances LO P1 Prepare Journal entries to record each of the following four separate Issuances of stock. 1. A corporation Issued 10,000 shares of $30 par value common stock for $360,000 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 $29,500. 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 $29,500. The stock has no stated value. 4. A corporation Issued 2,500 shares of $50 par value preferred stock for $154,500 cash. ok ht int ences View transaction list Journal entry worksheet Record the issue of 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,500. The stock has no stated value. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Record entry Clear entry View general journal Journal entry worksheet Record the issue of 2,500 shares of $50 par value preferred stock for $154,500 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 4 Record entry Clear entry View general Journal