During its first year of operations, Anchor Holdings Corporation entered into the following transactions relating to shareholders' equity. The articles of incorporation authorized the issue of $12,000\mathrm{.}000$ common shares, $$1\mathrm{.}50$ par per share, and $1,500,000$ preferred shares. $$30\mathrm{.}00$ par per share.

January $12$ Sold $3,60e,600$ connon shares for $$9\mathrm{.}00$ per share.

February $1$ Is sued $60,660$ comnon shares in exchange for legal services.

February $1$ Sold $120,600$ of its conmon shares and $24,600$ preferred shares for a total of $$1,884,060.$

Septenber $4$ Issued $480,600$ of its comnon shares in exchange for $1$and for whilch the cash price was known to be $$5,424,000.$

Required:

Prepare the appropriate joumal entries to record each transaction and the shareholders' equity section of the December $31$ balance sheet.

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