Following are the issuances of stock transactions.

1. A corporation issued 10,000 shares of $20 par value common stock for $240,000 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 $59,500. 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 $59,500. The stock has no stated value.
4. A corporation issued 2,500 shares of $75 par value preferred stock for $247,000 cash.

Prepare journal entries to record each of the following four separate issuances of stock.

• Record the issue of 10,000 shares of $20 par value common stock for $240,000 cash.
• Record the issue of 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $59,500. The stock has a $1 per share stated value.
• Record the issue of 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $59,500. The stock has no stated value.
• Record the issue of 2,500 shares of $75 par value preferred stock for $247,000 cash.