Help Save& Exit Submit Check my work 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 cf shares, $50 par per share 8 million common shares, $1 par per share, and 1 million preferred Feb. 12 Sold 2 million common shares, for $8 per share. 13 Issued 41,000 common shares to attorneys in exchange for leg 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 knovn 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 Journal entry worksheet Sold 2 million common shares, for $8 per share. Debit Credit Date General Journal February 12 2 of 9 Next t Prev