Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 50,000 shares of preferred 2% stock, exist40 par, and 750,000 shares of exist7 par common stock. The following selected transactions were completed during the first year of operations: July 1. Issued 400,000 shares of common stock at par for cash. 1. Issued 1,000 shares of common stock at par to an attorney in payment of legal July fees for organizing the corporation. Aug. 7. Issued 80,000 shares of common stock in exchange for land, build of common stock in exchange for land, buildings, and equipment with fair market prices of exist250,000, exist400,000, and exist70,000, respectively. Sept.20. Issued 25,000 shares of preferred stock at exist44 for cash. Journalize the transactions