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 $9 per share. 13 Issued 40,000 common shares to attorneys in exchange for legal services 13 Sold 80,000 of its common shares and 4,000 preferred shares for a total of $945,000. kipped Nov. 15 Issued 380,000 of its common shares in exchange for equipment for which the cash price was known to be $3,688,000 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.) Book Print View transaction list erences Journal entry worksheet 1 2 3 4 Sold 2 million common shares, for $9 per share. Note: Enter debits before credits. General Journal Date Debit Credit February 12 7 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. share 13 Issued 40.000 .es, for $9 Pe hange for legal services. ts Feb. 12 Sold million to attor 13 Sold 80, 000 of its common shares and 4,000 preferred shares for a total of $945,000. Skipped Nov. 15 Issued 380,000 of its common shares in exchange for equipment for which the cash price was known to be $3,688,000 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.) eBook Print View transaction list eferences Journal entry worksheet 2 4 1 3 Issued 40,000 common shares to attorneys in exchange for legal services. Note: Enter debits before credits. General Journal Date Credit Debit February 13 7 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 $9 per share. nts 13 Issued 40,000 common shares to attorneys in exchange for legal services. 13 Sold 80,000 of its common shares and 4,000 preferred shares for a total of $945,000. Skipped Nov. 15 Issued 380,000 of its common shares in exchange for equipment for which the cash price was known to be $3,688,000. 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.) eBook Print View transaction list eferences Journal entry worksheet 4 Sold 80,000 of its common shares and 4,000 preferred shares for a total of $945,000. Note: Enter debits before credits. General Journal Date Debit Credit February 13 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 $9 per share. 13 Issued 40,000 common shares to attorneys in exchange for legal services. 13 Sold 80,000 of its common shares and 4,000 preferred shares for a total of $945,000. Ipped Nov. 15 Issued 380,000 of its common shares in exchange for equipment for which the cash price was known to be $3,688,000. 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.) Book rint View transaction list Journal entry worksheet rences 1 2 3 4 Issued 380,000 of its common shares in exchange for equipment for which the cash price was known to be $3,688,000. Note: Enter debits before credits. Date General Journal Debit Credit November 15
