During its first year of operations, Linx 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 3 million common shares, for $11 per share.

13 issued 49,000 common shares to attorneys in exchange for legal services.

13 Sold 73,000 of its common shares and 3,000 preferred shares for a total of $1,005,000.

Nov. 15 issued 390,000 of its common shares in exchange for equipment for which the cash price was known to be $3,868,000

Directions: Prepare the appropriate journal entries to record each transaction