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Required information Skip to question [ The following information applies to the questions displayed below. ] Following are the issuances of stock transactions. A corporation

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[The following information applies to the questions displayed below.]
Following are the issuances of stock transactions.
A corporation issued 5,000 shares of $20 par value common stock for $120,000 cash.
A corporation issued 2,500 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.
A corporation issued 2,500 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.
A corporation issued 1,250 shares of $100 par value preferred stock for $155,500 cash.
Prepare journal entries to record each of the following four separate issuances of stock.

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