1) During its first year of operations, Criswell Incorporated completed the following transactions relating to shareholders' equity. January 5: Issued 380,000 of its common shares for $8 per share and 3,800 preferred shares at $110. February 12: Issued 58,000 shares of common stock in exchange for equipment with a known cash price of $326,000. The articles of incorporation authorize 5,000,000 shares with a par of $1 per share of common and 1,000,000 preferred shares with a par of $100 per share. Required: Record the above transactions in general journal form