Prepare journal entries to record each of the following four separate issuances of stock. 1. A corporation issued 7,000 shares of $20 par value common stock for $168,000 cash. 2. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $25,000. The stock has a $1 per share stated value. 3. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $25,000. The stock has no stated value. 4. A corporation issued 1,750 shares of $50 par value preferred stock for $112,500 cash. View transaction list Journal entry worksheet Record the issue of 7,000 shares of $20 par value common stock for $168,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal