Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 100,000 shares of preferred 1% stock, $55 par and 650,000 shares of $15 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. If an amount box does not require an entry, leave it blank. Feb. 5. Issued 145,000 shares of common stock at par for cash. Feb. 5. Cash 2,175,000 Common Stock 2,175,000 Feedback Feb. 5. Issued 450 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Feb. 5. Organizational Expenses 6,750 Common Stock 6,750 Feedback Apr. 9. Issued 19,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $52,000, $283,000, and $64,000, respectively. Apr. 9. Land 52,000 Buildings 283,000 Equipment 64,000 Common Stock 285,000 Paid-In Capital in Excess of Par-Common Stock 214,500 X