Exercise 12-4 Prepare entries for stock issuance (L.O.5) Thore Company issued 30,000 shares of $20 par value common stock for $680,000. What is the journal entry for this transaction? What would the journal entry be if the common stock had no-par or stated value? Exercise 12-5 Journalize stock issuance for property (L.O.5) Li & Tu, Inc., needed land for a plant site. It issued 100 shares of $480 par value common stock to the incorporators of their corporation in exchange for land, which cost S56,000 one year ago. Experienced appraisers recently valued the land at $72,000. What journal entry would be appropriate to record the acquisition of the land