Following are the issuances of stock transactions.

1. A corporation issued 3,000 shares of $10 par value common stock for $36,000 cash.
2. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $37,000. The stock has a $2 per share stated value.
3. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $37,000. The stock has no stated value.
4. A corporation issued 750 shares of $100 par value preferred stock for $112,000 cash.

Exercise 11-4 (Algo) Recording stock issuances LO P1

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