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Question(s) / Instruction(s):

A corporation issued 6,000 shares of its $10 par value common stock in exchange for land that has a market value of $84,000. The entry to record this transaction would include: a. A debit to Common Stock for $60,000. b. A debit to Land for $60,000. c. A credit to Land for $60,000. d. A credit to Contributed Capital in Excess of Par Value, Common Stock for $24,000. e. A credit to Common Stock for $84,000.

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