Ergonomics Supply Inc., a wholesaler of office products, was organized on July $1$ of the current year, with an authorization of $25,000$ shares of preferred $2\%$ stock, $$100$ par, and $550,000$ shares of $$10$ par common stock. The following selected transactions were completed during the first year of operations:

July $1.$ Issued $227,000$ shares of common stock at par for cash.

$1.$ Issued $700$ shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.

Aug. $7.$ Issued $66,000$ shares of common stock in exchange for land, buildings, and equipment with fair market prices of $$153,300,$ $$472,700$ and $$166,000$ respectively.

Sept. $20.$ Issued $19,300$ shares of preferred stock at $$106$ for cash.

Required:

Journalize the transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.