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Connect Homework - Chapter 11 Saved Help Save & Exit Submit Exercise 11-4 Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock points 1. A corporation issued 7,000 shares of $5 par value common stock for $42.000 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 $57,000. The stock has a $2 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 $57,000. The stock has no stated value. 4. A corporation issued 1.750 shares of $100 par value preferred stock for $232,000 cash. eBook Print References View transaction list Journal entry worksheet