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

1. A corporation issued 7,000 shares of $30 par value common stock for $252,000 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 $30,500. 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 $30,500. The stock has no stated value.
4. A corporation issued 1,750 shares of $75 par value preferred stock for $161,750 cash.

• 2

  Record the issue of 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $30,500. The stock has a $1 per share stated value.

• 3

  Record the issue of 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $30,500. The stock has no stated value.

• 4

  Record the issue of 1,750 shares of $75 par value preferred stock for $161,750 cash.