PART A During its first year of operations, the McCollum Corporation entered into the following transactions relating to shareholders' equity. The corporation was authorized to issue 130 million common shares, $1 par per share. Required: Prepare the appropriate journal entries to record each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) Jan. 9 Issued 70 million common shares for $30 per share. Mar. 11 issued 5,300 shares in exchange for custom-made equipment. McCollum's shares have traded recently on the stock exchange at $30 per share. view transaction list view general journal Journal Entry Work transaction list 12 1. Record the issue of 70 million common shares for $30 Record the issue of per share. 2. Record the issue of 5,300 shares in exchange for custom- made equipment. McCollum's shares have traded recently on the stock exchange at $30 per share. Date Jan. 9 done journal entry has been entered