Discuss the below:
STOCK ISSUANCE (PAR, NO-PAR, AND STATED VALUE)
Q: The following stock transactions occurred during January 20-- for Drexel Corporation:
(a) Issued 4,000 shares of $10 par common stock for $40,000 cash.
(b) Issued 5,000 shares of $10 par common stock for $45,000 cash.
(c) Issued 5,000 shares of $10 par common stock for $53,500 cash.
(d) Issued 6,000 shares of no-par common stock for $60,000 cash.
(e) Issued 4,000 shares of no-par common stock for $40,000 cash.
(f) Issued 6,000 shares of no-par common stock with a stated value of $8 per share for $48,000 cash.
(g) Issued 3,000 shares of no-par common stock with a stated value of $8 per share for $25,000 cash.
(h) Issued 4,000 shares of no-par common stock with a stated value of $8 per share for $30,500 cash.
Prepare general journal entries to record the stock transactions, identifying each transaction by letter