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ABC Inc. is a publicly traded company and has issued 10,000 common shares in exchange for a parcel of land on January 2. The shares

ABC Inc. is a publicly traded company and has issued 10,000 common shares in exchange for a parcel of land on January 2. The shares were trading at $4 per share, and the land was valued at $50,000 on the date of the accuicition. Identify the fournal entry to record the issue of 10,000 common shares in exchange for land. Land 40.000 Common Shares 40,000 Land 50,000 CommonShares 50,000 Land 10,000 Common Shares 10,000

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