18 Sony issued 7,500 shares of $10 par value common stock in exchange for land. The land has been appraised for $120,000. How should this transaction be recorded? 00:55:45 Multiple Choice eBook Debit Land $75,000; credit Common Stock $75,000. Debit Land $120,000; credit Common Stock $75,000; credit Paid-In Capital in Excess of Par Value, Common Stock $45,000. Debit Common Stock $120,000; credit Land $120,000. Debit Land $120,000; credit Common Stock $120,000. Debit Common Stock $75,000; debit Paid-In Capital in Excess of Par Value, Common Stock $45,000; credit Land $120,000.