Show Me How Issuing Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 50,000 shares of preferred 2% stock, $60 par and 1,000,000 shares of 58 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 700,000 shares of common stock at par for cash Feb.s Cash Common Stock Checky Work What is the company receiving and at what price is the stock being issued? Feb. 5. Issued 1,200 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation Feb. Previous Next > Check My Work Submit Assignment for Grading All work saved ATE