A corporation issued 6,400 shares of $10 par value common stock in exchange for some land with a market value of $98,000. The entry to record this exchange is:

A. Debit Land $98,000; credit Common Stock $64,000; credit Paid-In Capital in Excess of Par Value, Common Stock $34,000.

B. Debit Land $98,000; credit Common Stock $98,000.

C. Debit Land $64,000; credit Common Stock $64,000.

D. Debit Common Stock $64,000; debit Paid-In Capital in Excess of Par Value, Common Stock $34,000; credit Land $98,000.

E. Debit Common Stock $98,000; credit Land $98,000.