suing Stock Professional Products Inc, a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 125,000 shares of preferred 4 stock, $75 par and 450,000 shares $10 par common stock. The following selected transactions were completed during the first year of operations: ournalize the transactions Feb. 5. Issued 140,000 shares of common stock et par for cash Feb. 5. Cash Common stock Feb. 5. Issued 500 shares of common stock at par to an attorney in payment of legal fees for organising the corporation Feb. 5. Organizational Expenses Common Stock Apr. 9. Issued 21,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $35,000, $209,000, and $47.000, respectively, an amount box does not require an entry, leave it blank. Aar. 9. Land Buildings 38 Deck My Work mor Check My Work uses reaning Previous Next Apr. 9. Issued 21,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $38,000, $209,000, and $47,000, respectively If an amount box does not require an entry, leave it blank Anr. 9. Land Building Equipment Common Stock Paid In Capital incess of Par Common Stock Fee June 14. Issued 23,000 shares of preferred stock at $88 for cash If an amount box does not require an entry, leave it blank June 14 Cash Preferred Stock Pald-In Capital in Excess of Par-Preferred Stock lll lll