Prepare journal entries to record each of the following four separate issuances of stock 1. A corporation issued 5,000 shares of $20 par value common stock for $120,000 cash. 2. A corporation Issued 2.500 shares of no par common stock to its promoters in exchange for their efforts, estimated to be worth $53,500. The stock has a $2 per share stated value 3. A corporation issued 2.500 shares of no-pat common stock to its promoters in exchange for their efforts, estimated to be worth $53,500. The stock has no stated value. 4. A corporation issued 1.250 shares of $50 par value preferred stock for $116,000 cash. Credit View transaction list View journal entry worksheet No Transaction General Journal A 1 Cash Common stock 520 par value Paid in capital in excess of par valon Common stock Debit 120 000 100.000 20,000 27.500 2 Organization expenses Common stock 52 par value Paid in capital in excess of stated value. common stock