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Following are the issuances of stock transactions.

A corporation issued $4,000$ shares of $$20$ par value common stock for $$96,000$ cash.

A corporation issued $2,000$ shares of no$-$par common stock to its promoters in exchange for their efforts, estimated to be worth $$47,500.$ The stock has a $$2$ per share stated value.

A corporation issued $2,000$ shares of no$-$par common stock to its promoters in exchange for their efforts, estimated to be worth $$47,500.$ The stock has no stated value.

A corporation issued $1,000$ shares of $$75$ par value preferred stock for $$122,500$ 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 $4,000$ shares of $$20$ par value common stock for $$96,000$ cash.

Note: Enter debits before credits.

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