Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 75,000 shares of preferred 4% stock. $60 par and 550,000 shares of $25 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions If an amount box does not require an entry, leave it blank. Feb. 5. Issued 80,000 shares of common stock at par for cash. Feb 5 Feb. 5. Issued 650 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Feb 5 Apr. 9. Issued 21,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $101,000, $550,000, and $123,000, respectively. June 14. Issued 28,000 shares of preferred stock at $68 for cash. June 14 10 Il