Exercise 13-3 Recording stock Issuances LO P1 Prepare lournal entries to record the following four separate issuances of stock 1. A corporation Issued 4,000 shares of $5 par value common stock for $35,000 cash 2 A corporation Issued 2,000 shares of no-par common stock to Its promoters In exchange for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value. 3. A corporation Issued 2000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has no stated value. 4. A corporation Issued 1,000 shares of $50 par value preferred stock for $60,000 cash. View transaction lst Journal entry worksheet 3 4 Record the issue of 4,000 shares of $5 par value common stock for $35,000 cash Note: Enter debits betore credits Transaction General Journal Debit Credit Record entry Clear entry Vlew general Journal