Required information Use the following information for Exercises 4-5 below. (Algo) [The following information applies to the questions displayed below] Following are the issuances of stock transactions. 1. A corporation issued 2,000 shares of $5 par value common stock for $12,000 cash 2. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55,000. The stock has a $6 per share stated value 3. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55,000. The stock has no stated value. 4. A corporation issued 500 shares of $100 par value preferred stock for $105,000 cash. s Exercise 13-4 (Algo) Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. View transaction list Journal entry worksheet < A B C D Record the issue of 2,000 shares of $5 par value common stock for $12,000 cash. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit