Required information Use the following information for Exercises 4-5 below. (Algo) (The following information applies to the questions displayed below.) Following are the issuances of stock transactions. 1. A corporation issued 7,000 shares of $20 par value common stock for $168,000 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 $53,500. The stock has a $2 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 $53,500. The stock has no stated value. 4. A corporation issued 1,750 shares of $100 par value preferred stock for $228,500 cash. Journal entry worksheet Record the issue of 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $53,500. The stock has a $2 per share stated value. Note: Enter debits before credits. General Journal Debit Credit Transaction 2 Record entry Clear entry View general journal Journal entry worksheet