Question: ( 1 ) Required information [ The following information applies to the questions displayed below. ] Following are the issuances of stock transactions. A corporation

 (1) Required information [The following information applies to the questions displayed

(1)
Required information
[The following information applies to the questions displayed below.]
Following are the issuances of stock transactions.
A corporation issued 2,000 shares of $10 par value common stock for $24,000 cash.
A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $47,500. The stock has a $5 per share stated value.
A corporation issued 1,000 shares of no-par comman stock to its promoters in exchange for their efforts, estimated to be worth $47,500. The stock has no stated value.
A corporation issued 500 shares of $50 par value preferred stock for $72,500 cash.
Prepare journal entries to record each of the following four separate issuances of stock.
below.] Following are the issuances of stock transactions. A corporation issued 2,000

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