Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 7,000 shares of $10 par value common stock for $84,000 cash. 2. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $23,000. The stock has a $1 per share stated value. 3. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $23,000. The stock has no stated value. 4. A corporation issued 1,750 shares of $50 par value preferred stock for $110,500 cash. Prepare journal entries to record each of the following four separate issuances of stock View transaction list View journal entry worksheet No Transaction General Journal A 1 Cash Common stock, $10 par value Paid-in capital in excess of par value. Common stock B 2 Cash Common stock, no-par value Paid-in capital in excess of par value, preferred stock L Debit Credit 84,000 70,000 14,000