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 $6$ million common shares, $$1$ par per share, and $2$ million preferred shares, $$50$ par per share.

February $12$ Sold $3$ million common shares, for $$10$ per share.

February $13$ Issued $39,000$ common shares to attorneys in exchange for legal services.

February $13$ Sold $72,000$ of its common shares and $6,000$ preferred shares for a total of $$1,035,000.$

November $15$ Issued $420,000$ of its common shares in exchange for equipment for which the cash price was known to be $$3,988,000.$

Required:

Prepare the appropriate journal entries to record each transaction.

Note: 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 and not in millions.