Issuing Stock Ergonomics Supply Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 100,000 shares of 3% preferred stock, $50 par and 300,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. July 1. Issued 140,000 shares of common stock at par for cash. If an amount box does not require an entry, leave it blank. July 1 Cash Common Stock Feedback Check My Work What is the company receiving and at what price is the stock being issued? July 1 Issued 650 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. If an amount box does not require an entry, leave it blank. July 1 Organizational Expenses Common Stock Feedback Check My Work Recall that stock may be issued for reasons other than to receive cash. What are these shares paying for? Aug. 7. Issued 25,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $46,000, $249,000, and $55,000, respectively.

par and 300,000 shares of 5:0 par common tock. The following selected transactions were completed during the first xuar of operavisis: Jaumalike the transactions July 1 lisued 650 shares of common stock at par to an attomey in payment of legat foes for orpaniring the corpocation, If an amount box does not require an entry, leave it blank