Knighthood Inc. issued 6,000 shares of common stock. Prepare entries to record each of the following independent situations related to this issue of stock. a) Stock issued for $25 cash per share when par value was $5 per share. Date Description Debit Credit Cash Common Stock, $5 par b) Stock issued in exchange for equipment costing $12,000 when the stock had no par or stated value. Date Description Debit Credit Equipment Common Stock, no par c) Stock issued for $12000 cash when the stock had a stated value of $1 per share. Date Description Debit Credit Cash Common Stock, $1 stated value Paid in Capital in Excess of Stated Value, Common Stock