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 2% stock, $65 par and 550,000 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 155,000 shares of common stock at par for cash.

Feb. 5.		fill in the blank 325d8dfc9faff82_2	fill in the blank 325d8dfc9faff82_3
		fill in the blank 325d8dfc9faff82_5	fill in the blank 325d8dfc9faff82_6

Feb. 5. Issued 350 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.

Feb. 5.		fill in the blank 500905055fd3068_2	fill in the blank 500905055fd3068_3
		fill in the blank 500905055fd3068_5	fill in the blank 500905055fd3068_6

Apr. 9. Issued 21,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $76,000, $417,000, and $95,000, respectively.

Apr. 9.		fill in the blank 25193ffb1fdffc6_2	fill in the blank 25193ffb1fdffc6_3
		fill in the blank 25193ffb1fdffc6_5	fill in the blank 25193ffb1fdffc6_6
		fill in the blank 25193ffb1fdffc6_8	fill in the blank 25193ffb1fdffc6_9
		fill in the blank 25193ffb1fdffc6_11	fill in the blank 25193ffb1fdffc6_12
		fill in the blank 25193ffb1fdffc6_14	fill in the blank 25193ffb1fdffc6_15

June 14. Issued 28,000 shares of preferred stock at $79 for cash.

June 14.		fill in the blank 85ccc5084fb3fa7_2	fill in the blank 85ccc5084fb3fa7_3
		fill in the blank 85ccc5084fb3fa7_5	fill in the blank 85ccc5084fb3fa7_6
		fill in the blank 85ccc5084fb3fa7_8	fill in the blank 85ccc5084fb3fa7_9