During its first year of operations, Eastern Data Links Corporation entered into the following transactions relating to

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During its first year of operations, Eastern Data LinksCorporation entered into the following transactions relating toshareholders’ equity. The articles of incorporation authorized theissue of 7 million common shares, $1 par per share, and 3 millionpreferred shares, $50 par per share.
Required:Prepare the appropriate journal entries to record eachtransaction. (If no entry is required for a particulartransaction, select "No journal entry required" in the firstaccount field. Enter your answers in whole dollars.)