Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 125,000 shares of preferred 1% stock, $70 par and 650,000 shares of $20 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 135,000 shares of common stock at par for cash. Feb. 5. Cash Common Stock 88 88 Feb. 5. Issued 550 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Feb. 5. Organizational Expenses Common Stock Apr. 9. Issued 18,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $67,000, $368,000, and $83,000, respectively. Apr. 9. Landl Buildings Equipment Common Stock Paid-In Capital in Excess of Par-Common Stock