! Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 2,000 shares of $30 par value common stock for $72,000 cash. 2. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $24,500. The stock has a $2 per share stated value. 3. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $24,500. The stock has no stated value. 4. A corporation issued 500 shares of $50 par value preferred stock for $49,500 cash. Prepare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet < A B C D Record the issue of 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $24,500. The stock has a $2 per share stated value. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 24,500 Paid-in capital in excess of stated value, common stock 22,500 Common stock, $2 stated value 2,000 Record entry Clear entry View general journal > Required information View transaction list Journal entry worksheet < A B D Record the issue of 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $24,500. The stock has no stated value. Note: Enter debits before credits. Transaction 3 General Journal Debit Credit View general journal Record entry Clear entry Required information View transaction list Journal entry worksheet B D Record the issue of 500 shares of $50 par value preferred stock for $49,500 cash. Note: Enter debits before credits. Transaction 4 General Journal Debit Credit Record entry Clear entry View general journal