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Use the following information for Exercises $4-5$ below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

Following are the issuances of stock transactions.

A corporation issued $6,000$ shares of $$10$ par value common stock for $$72,000$ cash.

A corporation issued $3,000$ shares of no$-$par common stock to its promoters in exchange for their efforts, estimated to be worth $$47,000.$ The stock has a $$2$ per share stated value.

A corporation issued $3,000$ shares of no$-$par common stock to its promoters in exchange for their efforts, estimated to be worth $$47,000.$ The stock has no stated value.

A corporation issued $1,500$ shares of $$100$ par value preferred stock for $$197,000$ cash.

Exercise $11-4($Algo$)$ Recording stock issuances LO P$1$

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 $6,000$ shares of $$10$ par value common stock for $$72,000$ cash.