When companies offer new equity security issues, they publicize the offerings in the financial press and on Internet sites. Assume the following were among the equity offerings reported in December, year 1:

New Securities Issues

Equity

Texas Coal Inc. (TCI)7.6 million common shares, $0.004par, priced at$13.563 each through underwriters led by Second Louisiana Bank and Flemmings & Co., according to a syndicate official.

Faber Solutions Inc. (FSI)Offering of 8 million common shares, $0.02 par, was priced at $15.90 a share via lead manager Cooper Brothers, Inc., according to a syndicate official.

Prepare the appropriate journal entries to record the sale of both issues to underwriters. Ignore share issue costs.