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Current Attempt in Progress Wildhorse Company obtained land by issuing 2,400 shares of its...

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Question

Accounting

Current Attempt in Progress
Wildhorse Company obtained land by issuing 2,400 shares of its $8 par value ordinary shares. The land was recently appraised at $85,000. The ordinary shares are actively traded at $38 per share.
Prepare the journal entry to record the acquisition of the land. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
Account Titles and Explanation
Land
Debit
91200
Credit
19200
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