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 $28,000. 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 $28,000. The stock has no stated value. 4. A corporation issued 2,500 shares of $50 par value preferred stock for $153,000 cash. View transaction list Journal entry worksheet Record the issue of 10,000 shares of $30 par value common stock for $360,000 cash. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal B D Record the issue of 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $28,000. The stock has a si per share stated value. Note: Enter debits before credits. General Journal Debit Credit Transaction 2 Record entry Clear entry View general journal