ICOT Industries issued $15$ million of its $$1$ par common shares for $$424$ million on April $11.$ Legal, promotional, and accounting services necessary to effect the sale cost $$2$ million. REQUIRED: Explain how recording the share issue costs differs from the way debt issue costs recorded. E $18-7$ Share issue costs; issuance $()$ LO$18-4$ ICOT Industries issued $15$ million of its $\backslash$$$1$ par common shares for $\backslash (\backslash$$ $424\backslash )$ million on April $11.$ Legal, promotional, and accounting services necessary to effect the sale cost $\backslash (\backslash$$ $2\backslash )$ million. Required: $1.$ Prepare the journal entry to record the issuance of the shares. $2.$ Explain how recording the share issue costs differs from the way debt issue costs are recorded.