sing Professional Products in a wholesaler of office products, was organized on February 5 of the current year, with an authoritation of 50,000 shares of preferred stock. 560 par and 1,000,000 shares of par conto the following selected transactions were completed during the first year of operation Journalize the transactions If an amount box does not require an entry leave it bank Feb. 5. Isud 600,000 shares of common stock at par for cash Feb. Cash SOX Common Stocb X TOM What is the company receiving and at what price is the stock being sed? Feb. 5. Imed 1,400 shares of common stock et par to an attorney in payment of legal fees for organizing the corporation Feb 5 Organizational pents Common Stech - OX w Checa Recall the stock may be sued for reasons other than to receive cash. What are these shares paying for? Apr. 9. Issued 60,000 shares of common stock in exchange foran, tuldings and equipment with fairmant prices of $200,000, 5910,000, and 500,000, respectively Apr Land 130,00 X