during its first year of operations, the mccollum corp entered into the following transactions realting to shareholders' equity. The corp was authorized to issue 100 million common shares $1 par per share . prepare the appropriate journal entries to record each transaction

jan 9 issued 40 million common shares for $20 per share

march 11 issued 5,000 shares in exchange for custom-made equipment. mccollums shares have traded recently on the stock exchange at $20 per share