Liu Industries issued $15$ million of its $$1$ par common shares for $$440$ million on April $11.$ Legal, promotional, and accounting services necessary to effect the sale cost $$1$ million.

Required:

Prepare the journal entry to record the issuance of the shares.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in millions $($i$.$e$.,10,000,000$ should be entered as $10).$

Journal entry worksheet

$1$

Record the issuance of the shares.