2.3 pts Question 1 Wild, Inc. sold 26,000 shares of its $1 par value common stock at a cash price of $12 per share. The entry to record this transaction would be: Debit Cash $312,000; credit Stock Liability $286,000; credit Common Stock $26,000. Debit Common Stock $26,000; credit Cash $26,000. Debit Cash for $312,900; credit Common Stock $312,000. Debit Cash $312,000; credit Common Stock $26,000, credit Paid-in Capital in Excess of Par Value, Common Stock $286,000 Debit Common Stock $26,000; debit Paid-in Capital in Excess of Par Value, Common Stock $286,000; credit Cash $312.000 D Question 2 2.3 pts A company issued 70 shares of $30 par value preferred stock for $4.000 cash. The journal entry to record the issuance is: O Debit Preferred Stock $2,100, debit Investment in Preferred Stock $1,900; credit Cash $4.000 O Debit Cash $4,000 credit Preferred Stock $4.000. O Debit Cash $2,100; credit Preferred Stock $2.100, O Debit Investment in Preferred Stock $2,100; credit Cash $2,100. Debit Cash $4.000; credit Paid-in Capital in Excess of Par Value, Preferred Stock $1,900, credit Preferred Stock $2.100 Question 3 2.3 pts B-Corp. issued 5,000 shares of $10 par value common stock in exchange for some land with a market value of $70,000. The entry to record this exchange is: Debit Common Stock $50,000, debit Paid In Capital in Excess of Par Value. Common Stock $20,000 credit Land $70,000 Debit Land $70,000: credit Common Stock $50,000; credit Paid-In Capital in Excess of Par Value, Common Stock $20,000 Debit Land $70,000: Credit Common Stock $70,000. Debit Common Stock $70,000: credit Land $70,000 Debit Land $50,000: credit Common Stock $50.000