Obj. 2 current EX 12-8 Issuing stock ler of office products, was organized on February 5 of the year, with an authorization of 50,000 shares of preferred 2% stock, $60 par and 1,000,000 shares of common stock. The following selected transactions were completed during the first year of operations: Feb. 5. Issued 700,000 shares of common stock at par for cash. 5. Issued 1,200 shares of common stock at par to an attorney in payment of legal fees for organizing the cor- Apr. 9. Issued 40,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices June 14. Issued 25,000 shares of preferred stock at $82 for cash. poration. of $120,000, $280,000, and $80,000, respectively. Journalize the transactions