Business, 19.02.2021 03:20 alimarie9714

Item4 25 points Time Remaining 25 minutes 50 seconds00:25:50 Item 4 Time Remaining 25 minutes 50 seconds00:25:50 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 8 million common shares, $1 par per share, and 2 million preferred shares, $50 par per share. Feb. 12 Sold 3 million common shares, for $10 per share. 13 Issued 36,000 common shares to attorneys in exchange for legal services. 13 Sold 77,000 of its common shares and 4,500 preferred shares for a total of $1,020,000. Nov. 15 Issued 405,000 of its common shares in exchange for equipment for which the cash price was known to be $3,928,000. Required: Prepare the appropriate journal entri

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