Prepare journal entries to record each of the following four separate issuances of stock. a. A corporation issued 8,000 shares of $5 par value common stock for $48,000 cash.
b. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value.
c. A corporation issued 4,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has no stated value.
d. A corporation issued 2,000 shares of $75 par value preferred stock for $190,000 cash.