During its first year of operations, Eastern Data Links Corporation entered into the following transactions relating to shareholders equity. The articles of incorporation authorized the issue of 7 million common shares, $1 par per share, and 1 million preferred shares, $50 par per share. Feb. 12 Sold 2 million common shares, for $10 per share. 13 Issued 35,000 common shares to attorneys in exchange for legal services. 13 Sold 76,000 of its common shares and 4,000 preferred shares for a total of $1,015,000. Nov. 15 Issued 400,000 of its common shares in exchange for equipment for which the cash price was known to be $3,908,000. Note: FMV of the common stock is $10 per share

Prepare the appropriate journal entry to record each of the following transactions:

1. Sold 2 million common shares for $10 per share

2. Issued 35000 common shares to attorneys in exxhange for legal services

3.Sold 76000 of its common shares and 4000 of its preferred shares for a total of 1015000

4. issued 400000 of its common shares in exchange for equiptment for which the cash price was known to be 3908000