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world geography
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finance
Newgen Products Inc., a wholesaler of office products, was organized on February $20$ of the current year, with an authorization of $75,000$ shares of $2\%$ preferred stock, $\$50$ par and $400,000$ shares of $\$15$ par common stock. The following selected transactions were completed during the first year of operations:\ Feb. $\hspace{10pt}20$. Issued $150,000$ shares of common stock at par for cash.\ $\hspace{27pt}26$. Issued $500$ shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.\ Mar. $\hspace{13pt}6$. Issued $18,000$ shares of common stock in exchange for land, buildings, and equipment with fair market prices of $\$50,000$, $\$275,000$, and $\$60,000$, respectively.\ Apr. $\hspace{10pt}30$. Issued $20,000$ shares of preferred stock at $\$60$ for cash.\ Journalize the transactions.
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