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 million common shares, $ par per share, and million preferred shares, $ par per share.
February Sold million common shares, for $ per share.
February Issued common shares to attorneys in exchange for legal services.
February Sold of its common shares and preferred shares for a total of $
November Issued of its common shares in exchange for equipment for which the cash price was known to be $
Required:
Prepare the appropriate journal entries to record each transaction.
Note: If no entry is required for a particular transaction, select No journal entry required" in the first account field. Enter your answers in whole dollars and not in millions.
