The following series of transactions illustrates the procedure for recording the issuance of 10,000 shares of $10 par value ordinary shares for a patent for Marlowe Company, in various circumstances. Prepare Journal Entries in each case: 1. Marlowe cannot readily determine the fair value of the patent, but it knows the fair value of the shares is $140,000. 2. Marlowe cannot readily determine the fair value of the shares, but it determines the fair value of the patent is $150,000. 3. Marlowe cannot readily determine the fair value of the shares nor the fair value of the patent. An independent consultant values the patent at $125,000 based on discounted expected cash flows