During its first year of operations, Cole's Electronics Inc. completed the following transactions relating to shareholders' equity.
Jan. 5: Issued 1,000,000 shares of common stock for $25 per share.
Feb. 12: Issued 20,000 shares of common stock to accountants for professional services.
The articles of incorporation authorize 5,000,000 shares of common stock with a par value of $1 per share and 1,000,000 preferred shares with a par value of $100 per share.
Required:
Record the above transactions in general journal form.

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The Answer of During its first year of operations, Cole's Electronics Inc. completed the following transactions relating to shareholders' equity.
Jan. 5: Issued 1,000,000 shares of common stock for $25 per share.
Feb. 12: Issued 20,000 shares of common stock to accountants for professional services.
The articles of incorporation authorize 5,000,000 shares of common stock with a par value of $1 per share and 1,000,000 preferred shares with a par value of $100 per share.
Required:
Record the above transactions in general journal form.

During Its First Year of Operations, Cole's Electronics Inc