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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

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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 8 million common shares, $1 par per share, and 1 million preferred shares, $50 par per share. Feb. 12 Sold 2 million common shares, for $8 per share. 13 Issued 41,000 common shares to attorneys in exchange for legal services. 13 Sold 81,000 of its common shares and 7,000 preferred shares for a total of $1,045,000 Nov. 15 Issued 430,000 of its common shares in exchange for equipment for which the cash price was known to be $4,028,000 Required Prepare the appropriate journal entries to record each transaction. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 4 Sold 2 million common shares, for $8 per share Journal entry worksheet 4 Issued 41,000 common shares to attorneys in exchange for legal services. Journal entry worksheet 2 4 Sold 81,000 of its common shares and 7,000 preferred shares for a total of $1,045,000. Journal entry worksheet 2 4 Issued 430,000 of its common shares in exchange for equipment for which the cash price was known to be $4,028,000

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