During its first year of operations, Western Lakes Corporation entered into the following transactions relating to shareholders' equity. The articles of incorporation authorized the issue of 7 million common shares, $1 par per share, and 1 million preferred shares, $50 par per share. Feb. 12 Sold 3 million common shares, for $9 per share. 13 Issued 46,000 common shares to attorneys in exchange for legal services. Assume stock price from prior day deemed most accurate and available valuation. 13 Sold 86,000 of its common shares and 4,000 preferred shares for a total of $990,000. Assume common stock price from prior day deemed most accurate and available valuation and preferred stock value is remainder of bundled price. Nov. 15 Issued 375,000 of its common shares in exchange for equipment for which the cash price was known to be $3,808,000. Assume recent equipment price is deemed most accurate and available valuation. 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.)