Exercise $18-5($Algo$)$ Issuance of shares; noncash consideration $[$LO$18-4]$

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 $6$ million common shares, $$1$ par per share, and $2$ million preferred shares, $$50$ par per share.

February $12$ Sold $3$ million common shares, for $$8$ per share.

February $13$ Issued $41,000$ common shares to attorneys in exchange for legal services.

February $13$ Sold $81,000$ of its common shares and $4,500$ preferred shares for a total of $$900,000.$

November $15$ Issued $350,000$ of its common shares in exchange for equipment for which the cash price was known to be $$3,708,000.$

Required:

Prepare the appropriate journal entries to record each transaction.

Note: 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 and not in millions.

$\backslash$table$[[,$No$,$Date,General Journal,Debit,Credit$],[,1,$February $12,$Cash,,$],[,,$Common stock,,$],[,,$Paid$-$in capital $-$ excess of par, common,,$],[$@$,2,$February $13,$Legal expenses,,$],[,,$Common stock,,$],[,,$Paid$-$in capital $-$ excess of par, common,,$],[$@$,3,$February $13,$Cash,,$],[,,$Common stock,,$],[,,$Preferred stock,,$],[,,$Paid$-$in capital $-$ excess of par, common,,$],[,4,$November $15,$Property, plant, and equipment,,$],[,,$Common stock,,$],[,,$Paid$-$in capital $-$ excess of par, common,,$]]$