Rodriguez Corporation issues 5,000 shares of its common stock for $136,100 cash on February 20. Prepare journal entries to record this event under each of the following separate situations.

1. The stock has a $18 par value.
2. The stock has neither par nor stated value.
3. The stock has a $9 stated value.

Journal entry worksheet

• Record the issue of 5,000 shares of $18 par value common stock for $136,100 cash.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
1	Cash	136,100
	Common stock dividend distributable
	Paid-in capital in excess of par value, common stock

• Record the issue of 5,000 shares of no-par, no-stated value common stock for $136,100 cash.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
2	Cash	136,100
	Common stock dividend distributable		136,100

• Record the issue of 5,000 shares of $9 stated value common stock for $136,100 cash.

Note: Enter debits before credits.

Transaction	General Journal	Debit	Credit
3	Cash	136,100
	Common stock dividend distributable
	Paid-in capital in excess of stated value, common stock