7. SAM Company is a publicly held corporation whose 1 par value common stock is actively traded in the security market at 10 per share. The company issued 6,000 shares of common stock to acquire a land recently advertised at 100,000. When recording this transaction, SAM Company will: a) credit Common Stock for 100,000. b) debit Land for 100,000. c) credit Paid-In Capital in Excess of Par Value for 94.000. d) debit Land for 60,000. 8. SAM Company issued 12,000 shares of its 5 par value common stock in payment of its attorney's bill of 65,000. The bill was for services performed in helping the company incorporate. SAM Company should record this transaction by crediting: a) Common Stock for 65,000. b) Legal Expense for 65,000. c) Organization Expense for 60,000. d) Paid-in Capital in Excess of Par-Common Stock for 5,000