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 $10 par value common stock for $84,000 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 $29,000. The stock has a $1 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 $29,000. The stock has no stated value. 4. A corporation issued 1750 shares of $25 par value preferred stock for $72,750 cash. Exercise 11-4 (Algo) Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet D > Record the issue of 7,000 shares of $10 par value common stock for $84,000 cash. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal A C D ok ht Record the issue of 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $29,000. The stock has a $1 per share stated value. ht ences Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal Journal entry worksheet