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 10 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 38,000 common shared to attorneys in exchange for legal services. 13 Sold 78,000 of its common shares and 5,500 preferred sharon for a total of $1,030,000. Nov. 15 Tasued 415,000 of its common shares in exchange for equipment for which the cash price was known to be $3,968,000. 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.) 1 2 2 3 Sold 2 million common shares, for $9 per share. Note: Enter debits before credits Date General Journal Debit Credit February 12 Sold 78,000 of its common shares and 5,500 preferred shares for a total of $1,030,000. Note: Enter debits before credits Date General Journal Debit Credit February 13 2 3 4 Issued 415,000 of its common shares in exchange for equipment for which the cash price was known to be $3,968,000. Note: Enter debits before credits. Date General Journal Debit Credit November 15