Issuing Stock k Place Products Inc., a wholesaler of office products, was organized on Ju y 1 of he current year, common stock. The following selected transactions were completed during the first year of operations: h an authorization is shares io 4% ere edsto paran 55 00 na re d July. 1. Issued 155,000 shares of common stock at par for cash July. 1 July. 1 Issued 400 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. July. 1 Aug. 7. Issued 25,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $117,00o, $639,000, and $144,000, respectively For a compound transaction, if an amount box does not require an entry, leave it blank Aug. 7 Sept. 20. Issued 28,000 shares of preferred stock at $49 for cash. For a compound transaction, if an amount box does not require an entry, leave it blank. Sept. 20