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 $22,500. The stock has a $1 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 $22,500. The stock has no stated value. 4. A corporation issued 1,250 shares of $50 par value preferred stock for $85,000 cash. Prepare journal entries to record each of the following four separate issuances of stock. Journal entry worksheet Record the issue of 5,000 shares of $10 par value common stock for $60,000 cash. Note: Enter debits before credits. Journal entry worksheet Record the issue of 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $22,500. The stock has a $1 per share stated value. Note: Enter debits before credits. Journal entry worksheet Record the issue of 2,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $22,500. The stock has no stated value. Note: Enter debits before credits. Journal entry worksheet Record the issue of 1,250 shares of $50 par value preferred stock for $85,000 cash. Note: Enter debits before credits