for 2 it asks "Issued 25,000 shares of common stock to accountants for $750,000 of professional services"

Saved 11 During its first year of operations, Cole's Electronics Inc. completed the following transactions relating to shareholders' equity. January 5: Issued 1, 500,000 shares of common stock for $30 per share. February 12: Issued 25,000 shares of common stock to accountants for $750,000 of professional services. The articles of incorporation authorize 5,000.000 shares of common stock with a par of $1 per share and 1,000,000 preferred shares 8 points with a par of $100 per share. Required: 03:29:22 Record the above transactions in general journal form. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Issued 1,500,000 shares of common stock for $30 per share. Note: Enter debits before credits. Date General Journal Debit Credit January 05 Record entry Clear entry View general journal