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, $70 par and 250,000 shares of $10 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 145,000 shares of common stock at par for cash. 1,450,000 Common Stock 145,000 Feb. 5. Cash Feb. 5. Issued 500 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Feb. 5. Pald-In Capital in Excess of Par-Common Stock 5,000 Common Stock 5,000 Apr. 9. Issued 26,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $47,000, $258,000. and $59,000, respectively. Apr. 9. Land 47,000 Buildings 258,000 145,000 Feb. 5. Issued 500 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation Feb. 5. Pald-In Capital in Excess of Par-Common Stock 5,000 Common Stock 5,000 Apr. 9. Issued 26,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $47,000, 5258,000, and $59,000, respectively. Apr. 9. Land 47,000 258,000 Buildings Equipment Common Stock Pald-In Capital in excess of Par-Common Stock 59,000 260000 June 14. Issued 13,000 shares of preferred stock at $81 for cash. I June 14