Issuing Stock Work Place Products Inc, a wholesaler of office products, was organized on July 1 of the current year with an authorization of 125,000 shares of 4% preferred stock. $55 par and 600,000 shares of $15 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions, July. 1. Issued 140,000 shares of common stock at par for cash. July 1 w July 1 Issued 450 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. July. 1 Aug. 7. Issued 21,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $59.000, $321,000, and $71,500, respectively For a compound transaction of an amount box does not require an entry, leave it blank, Aug. 7 Sept. 20. Issued 30.000 shares of preferred stock ar 568 for cash. For a compound transaction, if an amount box does not require an entry leave it blank. Sept. 20