Following are the issuances of stock transactions.

A corporation issued $10,000$ shares of $$20$ par value common stock for $$240,000$ cash.

A corporation issued $5,000$ shares of no$-$par common stock to its promoters in exchange for their efforts, estimated to be worth $$55,000.$ The stock has a $$1$ per share stated value.

A corporation issued $5,000$ shares of no$-$par common stock to its promoters in exchange for their efforts, estimated to be worth $$55,000.$ The stock has no stated value.

A corporation issued $2,500$ shares of $$50$ par value preferred stock for $$180,000$ cash.

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

Journal entry worksheet

A

B

C

D

Record the issue of $10,000$ shares of $$20$ par value common stock for $$240,000$ cash.

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[1,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

Rrev.

$3$ of $7$