Issuing Stock Professional Products Inc, a wholesaler preferred 2% stock, $65 par and 450,000 shares of $20 par operations: Journalize the transactions. of office products, was organized on February 5 of the current year, with an authorization of 50,000 shares of common stock. The following selected transactions were completed during the first year of Feb. 5. Issued 75,000 shares of common stock at par for cash. Feb. 5 Feb. 5. Apr. 9. Issued 21,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $78,000, $427,000, and $97,000, respectively If an amount box does not require an entry, leave it blank. Previ Next 10-57 PM 4/17/2019 R Print Item Next