Prepare journal entries to record each of the following four separate issuances of stock. A corporation issued 10,000 shares of $5 par value common stock for $60,000 cash. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $37,000. The stock has a $1 per share stated value. A corporation issued 5,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $37,000. The stock has no stated value. A corporation issued 2,500 shares of $25 par value preferred stock for $99,500 cash.