1 Sold 4 million common shares, for $10 per share. 2 Issued 50,000 common shares to attorneys in exchange for legal services. 3 Sold 80,000 of its common shares and 3,500 preferred shares for a total of $1,010,000. 4 Issued 395,000 of its common shares in exchange for equipment for which the cash price was known to be $3,888,000. Credit Note: journal entry has been entered