Professional Products inc,y a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 75,000 shares of preferred 25 . stock, $45 par and 500,000 shares of $10 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 95,000 shares of common stock at par for cash. Feb, 5. Fenchack T Cheat iy Work: What is the company receiving and at what price is the stock being issued? Feb. 5. Issued 350 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Feb. Feiedsock F Chook My Was Recal that stock may be issued for reasons other than to receive cash. What are these shares paying for? Apr. 9. Issued 17,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $31,000,5169,000, and $38,000, respectively