Protessional Products Inc, a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 75,000 shares of preftrund 20 steck, 545 pur and 750,000 shares of $20 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transoctions. If an amount box does not require an entry, leave it blank. Feb. S. Issued 130,000 shares of common stock at par for cash. Feh. 5. I eh. 5. Issued 650 shares of common stock at par to an attomey in payment of legal fees for organizing the corporation. Apr. 9. faued 21.500 shares of common sock in exchange for land, buidings, and equigment with fair market prices of 578,000 , 1427,000, and s97,000, respectively. June 14. Issued 38,000 shares of preferred stock at $56 for cash