Required information [The following information applies to the questions displayed below.) Following are the issuances of stock transactions. 1. A corporation issued 8,000 shares of $20 par value common stock for $192,000 cash. 2. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $57,500. The stock has a $1 per share stated value. 3. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $57,500. The stock has no stated value. 4. A corporation issued 2,000 shares of $100 par value preferred stock for $257,500 cash. Prepare journal entries to record each of the following four separate issuances of stock. Answer is not complete. No Transaction General Journal Debit Credit 1 Cash 192,000 Common stock, $20 par value 160,000 32,000 B 2 2 57,500 Organization expenses Common stock, $1 stated value OOO 4,000 Paid-in capital in excess of stated value, common stock 53,500 3 57,500 Organization expenses Common stock, no-par value 57,500 D 4 Cash 257,500 Preferred stock, $100 par value Paid-in capital in excess of par value, preferred stock 200,000 57,500