Issuing Stock Newgen Products Inc., a wholesaler of office products, was organized on January 30 of the current year, with an authorization of 125,000 shares of 3% preferred stock, $65 par and 750,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. Hide Jan. 30. Issued 120,000 shares of common stock at par for cash Jan. 30