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Issuing Stock Ergonomics Supply Inc., a wholesaler of office products, was organized on July 1...

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Issuing Stock Ergonomics Supply Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of 75,000 shares of 4% preferred stock, $60 par and 550,000 shares of $20 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions, July 1. Issued 145,000 shares of common stock at par for cash. If an amount box does not gulre an entry, leave it blank July 1 July 1 Issued 500 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. If an amount box does not require an entry, leave it blank July 1 88 Aug7. luued 21,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $76,000) $417.000, and $95,000, respectively. If an amount box does not require an entry, leave it blank. Aug. JID lll Sept. 20. Issued 20,000 shares of preferred stock at $69 for cash. If an amount box does not require an entry, leave it blank. Sept. 20

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