Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 26,000 shares of preferred 2% stock, $100 par and 550,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations:

July	1	Issued 247,000 shares of common stock at par for cash.
	1	Issued 300 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.
Aug.	7.	Issued 69,100 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $153,500, $488,060 and $160,000 respectively.
Sept.	20.	Issued 15,000 shares of preferred stock at $109 for cash.

Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.