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A large, publicly traded company issues 100,000 shares of $1 par value common stock in exchange for 1,000 acres of undeveloped land in Colorado on

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A large, publicly traded company issues 100,000 shares of $1 par value common stock in exchange for 1,000 acres of undeveloped land in Colorado on January 1, 2021. The firm estimates that the fair value of the common stock is $5,600,000 and that the fair value of the land is $6,000,000 Provide the January 1, 2021 journal entry

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