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

January		5:		Issued 390,000 of its common shares for $8 per share and 2,900 preferred shares at $110.
February		12:		Issued 49,000 shares of common stock in exchange for equipment with a known cash price of $308,000.

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. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1: January 5 entry record the issue of 390,000 common shares for $8 per share

2. January 5 entry record the issue of 2,900 preferred shares at $110

3. February 12 entry record the issued 49,000 shares of common stock in exchange for equipment with a known cash price of $308,000

Please show all work.