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.

Feb. $12$ Sold $4$ million common shares, for $$10$ per share.

$13$ Issued $50,000$ common shares to attorneys in exchange for legal services.

$13$ Sold $80,000$ of its common shares and $3,500$ preferred shares for a total of $$1,010,000.$

Nov. $15$ Issued $395,000$ of its common shares in exchange for equipment for which the cash price was known to be $$3,888,000.$

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.$)$