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4. Friendly Company recently acquired land by issuing 2,000 shares of $10 par value common stock. The land was recently appraised for $85,000. The common

4. Friendly Company recently acquired land by issuing 2,000 shares of $10 par value common stock. The land was recently appraised for $85,000. The common stock is actively traded at $40 per share. Prepare the journal entry to record this transaction

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