During its first year of operations, Cole's Electronics Inc. completed the following transactions relating to shareholders' equity.

January		5:		Issued 2,400,000 shares of common stock for $21 per share.
February		12:		Issued 16,000 shares of common stock to accountants for $336,000 of professional services.

The articles of incorporation authorize 5,000,000 shares of common stock with a par of $1 per share and 1,000,000 preferred shares with a par of $100 per share. Required: Record the above transactions in general journal form. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)