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Issuing Stock Newgen Products Inc., a wholesaler of office products, was organized on January 30...

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Issuing Stock Newgen Products Inc., a wholesaler of office products, was organized on January 30 of the current year, with an authorization of 125,000 shares of 2% preferred stock, $55 par and 600,000 shares of $25 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions. Hide Jan. 30. Issued 75,000 shares of common stock at par for cash. Jan. 30 Hide Jan. 31 Issued 600 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. Jan. 31

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