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 3% preferred stock, $75 par and 700,000 shares of $15 par common Brock. The following selected transactions were completed during the first year of operations: Journalize the transactions. July. 1. Issued 110,000 shares of common stock at par for cash. July 1 Cash Common Stock July, 1 Issued 400 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. July 1 Organizational Expenses Common Stock Aug. 7. Issued 24,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $67,000, $365,000, and $82,500, respectively. For a compound transaction, if an amount box does not require an entry, leave it blank. Aug. 7 Land Buildings Equipment Common Stock Paid-In Capital in Excess of Par-Common Stock Sept. 20. Issued 35,000 shares of preferred stock at $89 for cash. CARRARA Fan munt havdar at an anti luni hal Previous Next > Journalize the transactions. July. 1. Issued 110,000 shares of common stock at par for cash. July 1 Cash Common Stock July. 1 Issued 400 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. July 1 Organizational Expenses Common Stock