BOOK Show Me HON Calculator 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 $8 par common stock. The following selected transactions were completed during the first year of operations: Joumalize 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 Feb.S. 1,200 shares of common stock at par to an attorney in payment of legal feas for organizing the corporation Feb.5 Apr. 9. Issued 40,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $120,000 $280.000, and $80,000, respectively Apr 9