Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 5,000 shares of $10 par value common stock for $60,000 cash. 2. A corporation Issued 2.500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $48,000. The stock has a $2 per share stated value. 3. A corporation issued 2.500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $48,000. The stock has no stated value. 4. A corporation Issued 1,250 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.