accounting

During its first year of operations, Eastern Data Links Corporation entered into the following transactions relating to shareholders' equity. The articles ofincorporation authorized the issue of10 million common shares, $1 par per share, and 1 million preferred shares, $50 par per share. Feb. 12 Sold 2 million common shares, for $9 per share. 13 Issued 38,000 common shares to attorneys in exchange for legal services. 13 Sold 78,000 of its common shares and 5,500 preferred shares for a total of $1,030,000. Nov. 15 Issued 415,000 of its common shares in exchange for equipment for which the cash price was known to be $3,968,000. Required: Prepare the appropriatejournal 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.) Vlew transaction list Sold 2 million common shares, for $9 per share. Issued 33,000 common shares to attorneys in exchange for legal services. Sold 78,000 of its common shares and 5,500 preferred shares for a total of $1,030,000. Issued 415,000 of its common shares in exchange for equipment for which the cash price was known to be $3,968,000