Homework chapter 18 WASHOVOTON, Jan 19 - Medical Cent Help Save & Exit Submit 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 8 million common shares. Si par per share, and 1 milion preferred shares. $50 par per share. Check my work 13 Issued 40,000 common shares to attorneys in exchange for legal services. Nov. 15 Issued 388,eee of its common shares in exchange for equipment for which the cash price was known to be $3,688,880. Required: Prepare the appropriate journal entries to record each transaction. (no entry is required for a particular transaction, select "No journal entry required in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 2 Sold 2 million common shares, for $9 per share. Note: Enter debits before credits Date February 12 General Journal Debit Credit