Rodriguez Corporation issues $16,000$ shares of its common stock for $$87,800$ cash on February $20.$ Prepare journal entries to record this event under each of the following separate situations.

The stock has a $$4$ par value.

The stock has neither par nor stated value.

The stock has a $$2$ stated value.

Journal entry worksheet

A

B

C

Record the issue of $16,000$ shares of $$4$ par value common stock for $$87,800$ cash.

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[1,$Cash,,$],[,$Common stock, $$4$ par value,,$],[,$Paid$-$in capital in excess of par value, common stock,,$],[,,,],[,,,],[,,,]]$