What is the double entry for below question?

(L & H Developments was authorized to issue 1000 class A common share. Two hundred common shares were issued upon incorporation. Chris and Jane each contributed $250000 to the formation of the corporation. Each received $100 in common shares; the remainder of their contribution was treated as a shareholder loan.)

My entry is : Dr cash $100 cr common share for chris $100
Dr cash $100 cr common share for jane $100
Dr cash $499800 cr long term loan payable - chris $249900
Cr long term loan payable - jane $ 249900

( May I know my entry whether correct? If I am wrong please give me comment.)

Thanks and regards,
Miu