Record the issuance of 51,500 shares of $4 par value common stock for $324,500 cash.

Record the issuance of no-par value common stock for $88,000 cash.

Record the issuance of 3,800 shares of $20 par value common stock for $57,000 of inventory, $175,000 of machinery, and acceptance of a $93,000 note payable.

QS 11-5 (Algo) Issuance of common stock LO P1 Prepare the issuer's journal entry for each of the following separate transactions. a. On March 1, Atlantic Company issues 51,500 shares of $4 par value common stock for $324,500 cash. b. On April 1, OP Company issues no-par value common stock for $88,000 cash. c. On April 6, MPG issues 3,800 shares of $20 par value common stock for $57,000 of inventory, $175,000 of machinery, and acceptance of a $93,000 note payable. Journal entry worksheet Record the issuance of 51,500 shares of $4 par value common stock for $324,500 cash. Note: Enter debits before credits