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7. Dailey Company is a publicly held corporation whose $1 par value ordinary shares are actively traded at $22 per share. The company issued 2,000
7. Dailey Company is a publicly held corporation whose $1 par value ordinary shares are actively traded at $22 per share. The company issued 2,000 shares to acquire land recently advertised at $55,000. When recording this transaction, Dailey Company will (3 Points) credit Share Premium-Ordinary for $42,000 credit Land for $44,000 credit Share Capital-Ordinary for $44,000 debit Land for $55,000
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