Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 100,000 shares of preferred 2% stock, $60 par and 400,000 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 150,000 shares of common stock at par for cash. Feb. 5. Cash Common Stock 88 Feedback Check My Work What is the company receiving and at what price is the stock being issued? Feb. 5. Issued 650 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Feb. 5. Organizational Expenses Common Stock