Bawa company is authorized to issue 780,000 shares of $7 par value common stock. Prepare journal entries to record the following selected transactions that occurred during the company's first year of operations: Jan. 3 16 Feb. 8 Sold 115,000 shares of common stock for $8 cash per share. Exchanged 13,000 shares of common stock for equipment with a market value of $104,000. Exchanged 680 shares of common stock for $5,100 of legal services Incurred during the company's organization