Prepare journal entries to record each of the following four separate issuances of stock.

A corporation issued 5,000 shares of $5 par value common stock for $30,000 cash.

A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $56,500. The stock has a $2 per share stated value.

A corporation issued 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $56,500. The stock has no stated value.

A corporation issued 1,250 shares of $50 par value preferred stock for $119,000 cash.

Journal Entry 1: Record the issue of 5,000 shares of $5 par value common stock for $30,000 cash.

Journal Entry 2: Record the issue of 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $56,500. The stock has a $2 per share stated value.

Journal Entry 3: Record the issue of 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $56,500. The stock has no stated value.

Journal Entry 4: Record the issue of 1,250 shares of $50 par value preferred stock for $119,000 cash.