Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 4,000 shares of $10 par value common stock for $48,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $34,500. The stock has a $2 per share stated value. 3. A corporation Issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $34,500. The stock has no stated value. 4. A corporation issued 1,000 shares of $50 par value preferred stock for $84,500 cash. View transaction list Journal entry worksheet B C D A > Record the issue of 4,000 shares of $10 par value common stock for $48,000 cash Note: Enter debits before credits Credit Transaction General Journal 1 Cash Common stock, $10 par value Paid-in capital in excess of par value, Common stock Debit 48,000 40,000 8,000