Exercise 12-7 Issuance of Stock Sussex Company is authorized to issue 100,000 shares of common stock. On August 1, the company issued 5,000 shares at $25 per share. Hide 1. Prepare a journal entry to record the issuance of stock for cash under the assumption the stock has a par value of $25. Aug. 1 Issued 5,000 shares of $25 par value common stock for $25 per share Show All Feedback Hide 2. Prepare a journal entry to record the issuance of stock for cash under the assumption the stock has a par value of $10. If an amount box does not require an entry, leave it blank. Aug. 1 Issued 5,000 shares of $10 par value common stock for $25 per share Show All Feedback Hide 3. Prepare a journal entry to record the issuance of stock for cash under the assumption the stock has no par value. Aug. 1 Issued 5,000 shares of no-par common stock for $25 per share Show All Feedback Hide 4. Prepare a journal entry to record the issuance of stock for cash under the assumption the stock has a stated value of $1 per share. If an amount box does not require an entry, leave it blank. Aug. 1 Issued 5,000 shares of $1 stated value common stock for $25 per share