During its first year of operations. Cole's Electronics Inc, completed the following transactions relating to shareholders' equity. January 5: Issued 1,200,000 shares of common stock for $27 per share. February 12: Issued 22,000 shares of common stock to accountants for $594,890 of professional services. The articles of incorporation authorize 5,000,000 shares of common stock with a par of $1 per share and 1,000,000 preferred shares with a par of $100 per share. Required: Record the above transactions in general journal form. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account fleld.) View transaction list View journal entry worksheet Debit Credit No 1 Date January 05 7 General Journal Cash Common stock Paid-in capital-excess of par 2 February 12 Professional services expense Common stock Paid-in capital excess of par EEEEE