Holimont Ltd. (HL) has unlimited no-par common shares authorized. The following transactions took place in the first year: a. To record authorization of shares by board of directors (memorandum). b. Issued 230,000 shares at $80; collected cash in full and issued the shares. Share Issue costs amounted to $50,000. Treat this amount as a reduction of the common share account. c. Received subscriptions for 115,000 shares at $90 per share; collected 70% of the subscription price. The shares will not be issued until collection of cash in full. d. Issued 600 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 $54,000. e. Issued 46,000 shares and assumed an $414,000 mortgage in total payment for a building with a fair value of $828,000. f. 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.) View transaction list Journal entry worksheet 5 6 7 8 Record the acquistion of building by issue of shares and acceptance of mortgage. Note: Enter debits before credits. Transaction e General Journal Debit Credit Record entr Common shares subscribed Common shares, no-par Mortgage payable Stock subscription receivable Trademark View general journal