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 1% preferred stock, $60 par and 650,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations:

Journalize the transactions:

Jan. 31 Issued 500 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.