Required information [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 10,000 shares of $10 par value common stock for $120,000 cash. 2. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $22,500. The stock has a $0 per share stated value. 3. A corporation issued 5,000 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 2,500 shares of $100 par value preferred stock for $272,500 cash. Prepare journal entries to record each of the following four separate issuances of stock. Journal entry worksheet D Record the issue of 10,000 shares of $10 par value common stock for $120,000 cash. Note: Enter debits before credits