Exercise $13-3($Algo$)$ Accounting for par, stated, and no$-$par stock issuances LO P$1$

Rodriguez Corporation issues $13,000$ shares of its common stock for $$79,200$ cash on February $20.$ Prepare journal entries to record

this event under each of the following separate situations.

The stock has a $$4$ par value.

The stock has neither par nor stated value.

The stock has a $$2$ stated value.

Journal entry worksheet

A

B

C

Record the issue of $13,000$ shares of $$4$ par value common stock for $$79,200$

cash.

Note: Enter debits before credits.

A: Record the issue of $13,000$ shares of $$4$ par value common stock for $$79,200$ cash.

B: Record the issue of $13,000$ shares of no$-$par, no$-$stated value common stock for $$79,200$ cash.

C: Record the issue of $13,000$ shares of $$2$ stated value common stock for $$79,200$ cash.