What amounts will be recorded in the land and common stock

Reference no: EM133610042

Question: Knight Corp. obtained land by issuing 3,000 shares of its $10 par value common stock. The land was recently appraised at $72,000. The common stock is actively traded at $25 per share. When recording the acquisition of the land, what amounts will be recorded in the Land and Common Stock accounts?

Reference no: EM133610042

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