accounting

During its first year of operations, Eastern Data Links Corporation entered into the following transactions relating to shareholders' equity. The articles of incorporation authorized the issue of 8 million common shares, $1 par per share, and 1 million preferred shares, $50 par per share. Feb. 12 Sold 2 million common shares, for $8 per share. 13 Issued 41,000 common shares to attorneys in exchange for legal services. 13 Sold 81,000 of its common shares and 7,000 preferred shares for a total of $1, 045,000. Nov. 15 Issued 430,000 of its common shares in exchange for equipment for which the cash price was known to be $4 , 028 , 000. Required: Prepare the appropriate journal entries to record each transaction. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list X 1 Sold 2 million common shares, for $8 per share. V 2 Issued 41,000 common shares to attorneys in exchange for legal services. 3 Sold 81,000 of its common shares and 7,000 preferred shares for a total of $1,045,000. 4 Issued 430,000 of its common shares in exchange for Credit