Prepare journal entries to record each of the following four separate issuances of stock. A corporation issued 3,000 shares of $20 par value common stock for $72,000 cash. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $27,000. The stock has a $2 per share stated value. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $27,000. The stock has no stated value. A corporation issued 750 shares of $75 par value preferred stock for $83,250 cash