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Following are the issuances of stock transactions.

A corporation issued $7,000$ shares of $$20$ par value common stock for $$168,000$ cash.

A corporation issued $3,500$ shares of no$-$par common stock to its promoters in exchange for their efforts, estimated

to be worth $$44,000.$ The stock has a $$1$ per share stated value.

A corporation issued $3,500$ shares of no$-$par common stock to its promoters in exchange for their efforts, estimated

to be worth $$44,000.$ The stock has no stated value.

A corporation issued $1,750$ shares of $$50$ par value preferred stock for $$131,500$ cash.

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

Journal entry worksheet

A

B

C

D

Record the issue of $3,500$ shares of no$-$par common stock to its promoters in

exchange for their efforts, estimated to be worth $$44,000.$ The stock has a $$1$

per share stated value.

Note: Enter debits before credits.