Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 30,000 shares of preferred 2% stock, $100 par and 500,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations: Feb. 5 Issued 212,000 shares of common stock at par for cash. 5 Issued 300 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Apr. 9 Issued 66,400 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $148,100,$521,840, and $166,700 respectively. June 14 Issued 15,000 shares of preferred stock at $108 for cash. Journalize the transactions. General Journal Instructions General Ledger ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Recelvable 141 Inventory 145 Otfice Supplies 151 Prepaid Insurance 181 Land 191 Bulldings 192 Accumulated Depreciation-Buildings 193 Equipment 194 Accumulated Depreciation-Equipment LABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 241 Salaries Payable 261 Mortgage Note Payable REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Dolivery Expense 533 Selling Expenses 534 Rent Expense 535 Insurance Expense 536 Office Supplies Expense 537 Organizasonal Expenses 561 Depreciation Expense-Buildings. 562 Depreciation Expense-Equipment 590 Miscellaneous Expense 710 interest Expense EQUITY 236 Stock Dividends Distributable 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Eamings 351 Cash Dividends 352 Stock Dividends