Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 3,000 shares of $20 par value common stock for $72,000 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 $34,000. 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 $34,000. The stock has no stated value. 4. A corporation issued 750 shares of $75 par value preferred stock for $90,250 cash. View transaction list Journal entry worksheet Record the issue of 3,000 shares of $20 par value common stock for $72,000 cash. Note: Enter debits before credits. Transaction General Journal Cash Common stock, $20 par value Paid-in capital in excess of par value, Common stock Debiti Credit 72,000 60,000 12,000