During its first year of operations, the McCollum Corporation entered into the following transactions relating to shareholders equity. The corporation was authorized to issue 110 million common shares, $1 par per share

PART A During its first year of operations, the McCollum Corporation entered into the following transactions relating to shareholders' equity. The corporation was authorized to issue 110 million common shares, $1 par per 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.) Mar. 11 Issued 4,000 shares in exchange for custom-made equipment. McCollum's shares have traded recently on the stock exchange at $10 per share