Exercise $11-3($Algo$)$ Accounting for par, stated, and no$-$par stock issuances LO P$1$

Rodriguez Corporation issues $14,000$ shares of its common stock for $$64,600$ cash on February $20.$ Prepare journal entries to record this event under each of the following separate situations.

The stock has a $$2$ par value.

The stock has neither par nor stated value.

The stock has a $$1$ stated value.Record the issue of $14,000$ shares of $$2$ par value common stock for $$64,600$

cash.

Note: Enter debits before credits.

Record the issue of $14,000$ shares of no$-$par, no$-$stated value common stock for

$$64,600$ cash.

Jote: Enter debits before credits.

Record the issue of $14,000$ shares of $$1$ stated value common stock for

$$64,600$ cash.

Note: Enter debits before credits.