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 $9$ million common shares, $$1$ par per share, and $3$ million preferred shares,

$$50$ par per share.

February $12$ Sold $2$ million common shares, for $$10$ per share.

February $13$ Issued $48,000$ common shares to attorneys in exchange for legal services.

February $13$ Sold $72,000$ of its common shares and $5,000$ preferred shares for a total of $$1,000,000.$

November $15$ Issued $385,000$ of its common shares in exchange for equipment for which the cash price was known to be

$$3,848,000.$

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.