Issuing Stock Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 50,000 shares of 3% preferred stock, $55 par and 250,000 shares of $25 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions July. 1. Issued 115,000 shares of common stock at par for cash July July 1 Issued 350 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation July. I Aug. 7. Issued 22,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $105,000, $575,000, and $130,000, respectively For a compound transaction, if an amount box does not require an entry, leave it blank. Aug. 7 Sept. 20. Issued 13,000 shares of preferred stock at $69 for cash For a compound transaction, if an amount box does not require an entry, leave it blank. Sept. 20