Holimont Ltd$.($HL$)$ has unlimited no$-$par common shares authorized. The following transactions took place in the first year:

To record authorization of shares by board of directors $($memorandum$).$

Issued $200,000$ shares at $$20$; collected cash in full and issued the shares. Share issue costs amounted to $$67,000.$ Treat this amount as a reduction of the common share account.

Received subscriptions for $100,000$ shares at $$30$ per share; collected $70\%$ of the subscription price. The shares will not be issued until collection of cash in full.

Issued $400$ shares to a lawyer in payment for legal fees related to trademark registration. The lawyer estimates that the legal services provided would have been worth $$12,000.$

Issued $40,000$ shares and assumed an $$120,000$ mortgage in total payment for a building with a fair value of $$240,000.$

Collected balance on subscriptions receivable in $($c$).$

Required:

$1.$ Journalize the above transactions. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$