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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 9 million common shares, $1 par per share, and 2 million preferred shares, $50 par per share February 12 sold 3 nillion comon shares, for $9 per share. February 13 Issued 42,000 comnon shares to attorneys in exchange for legal services. february i3 sold 73,000 of its common shares and 7,500 preferred shares for a total of 31,050,000, Novenber 15 issued 435,000 of its common shares in exchange for equipment for which the cash price was known to be s4, e48, 00e. 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. Journal entry worksheet 2 Sold 3 million common shares, for $9 per share. Note: Enter debits before credits. Journal entry worksheet Issued 42,000 common shares to attorneys in exchange for legal services. Note: Enter debits before credits. Journal entry worksheet Sold 73,000 of its common shares and 7,500 preferred shares for a total of $1,050,000. Note: Enter debits before ardits. Journal entry worksheet Issued 435,000 of its common shares in exchange for equipment for which the cash price was known to be $4,048,000. Note: Enter debits before credits

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