Share Issuances for Cash Henlay, Inc., issued 10,000 shares of $20 par value preferred stock at $48 per share and 8,000 shares of no-par value common stock at $15 per share. The common stock has no stated value. All issuances were for cash. a. Prepare the journal entries to record the share issuances. b. Prepare the journal entry for the issuance of the common stock assuming that it had a stated value of $10 per share. c. Prepare the journal entry for the issuance of the common stock assuming that it had a par value of $2 per share. General Journal Debit Credit Ref. Description Cash Preferred stock 280,000 Paid-in-capital in excess of par value Preferred stock Issued shares of preferred stock Cash 120,000 120,000 Common stock Issued shares of no-par value common stock 120,000 Cash 80,000 Common stock 40,000 Paid-in-capital in excess of stated value-common stock Issued shares of no-par value common stock, stated value. Issued shares of no-par value common stock. b. Cash 120,000 0 Common stock 80,000 Paid-in-capital in excess of stated value-common stock 0 40,000 Issued shares of no-par value common stock, stated value. Cash Common stock Paid-in-capital in excess of par value Common stock Issued shares of common stock