A company is authorized to issue 750,000, shares of $5 par value common stock. Prepare journal entries to record the follwing selected transactions that occurred during the company's first year of operations

Jan. 10 -- Sold 102,000 shares of common stock for $8 cash per share.

Jan. 15-- Exchanged 10,000 shares of common stock for equipment with a market value of $80,000.

Feb. 1 -- Exchanged 500 shares of common stock for $3,000 of legal services, incurred during the company's organiztion.