accounting

During its first year of operations, Eastern Data Links Corporation entered into the following transactions relating to shareholders' equity. The articles ofincorporation authorized the issue of8 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 31,000 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 he $4,020,000. Required: Prepare the appropriatejournal entries to record each transaction. (If no entry ls required for a particular transaction, select "No journal entry required" In the first account field. Enter your answers In whole dollars.) View transaction list Sold 2 million common shares, for $8 per share. issued 41,000 common shares to attorneys in exchange for legal services. Sold 81,000 of its common shares and 7,000 preferred shares for a total of $1,045,000. Issued 430,000 of its common shares in exchange for equipment for which the cash price was known to be $4,028,000