During its first year of operations, Criswell Inc. completed the following transactions relating to shareholders' equity.

January $5$:

Issued $300,000$ of its common shares for $$8$ per share and $3,000$ preferred shares at $$110.$

February $12$: Issued $50,000$ shares of common stock in exchange for equipment with a known cash price of $$310,000.$

The articles of incorporation authorize $5,000,000$ shares with a par of $$1$ per share of common and $1,000,000$ preferred shares with a par of $$100$ per share.

Required:

Record the above transactions in general journal form.