Prepare journal entries to record the following four separate issuances of stock. 1. A corporation issued 8,000 shares of $20 par value common stock for $192,000 cash 2. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $35,000. The stock has a $1 per share stated value. 3. A corporation issued 4,000 shares of no par common stock to its promoters in exchange for their efforts, estimated to be worth $35,000. The stock has no stated value 4. A corporation issued 2,000 shares of $75 par value preferred stock for $185,000 cash. Answer is complete but not entirely correct. No Transaction General Journal Debit Credit 1 Cash 192,000 Common stock, $20 par value > 160,000 Paid-in capital in excess of par value, Common stock 32,000 2 59,000 Organization expenses Common stock, $1 stated value Pald-in capital in excess of stated value, common stock 4,000 55,000 3 3 Organization expenses Common stock, no par value 33,000 33,000 X 4 4 109,000 Cash Preferred stock, $75 par value Pald.in capital in excess of par value, preferred stock 150,000 59,000