Prepare the journal entries to record the following separate issuances of stock:

Prepare the journal entries to record the following separate issuances of stock:

1.) A corporation issued 10,000 shares of $6 par value common stock for $70,000. 2.) A corporation issues 3,000 shares of $20 par value preferred stock for $75,000. 3.) A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $200,000. The stock has a $15 stated value. 4.) A corporation issued 2,500 shares of no-par common stock in exchange for a building worth $30,000.