Refer to Exercise 2-2.

\section*{Required}

1. Open the following T-accounts with their December 1 balances: Cash, debit balance \(\$ 6,000\); Land, debit balance \(\$ 74,000\); Common Stock, credit balance \(\$ 80,000\).

2. Record the transaction of Exercise 2-2 directly in the T-accounts affected. Use the dates as posting references.

3. Compute the December 31 balance in each account, and prove that total debits equal total credits.