Acaderies .nohodsedu | O 11.norwork /assignments/1 35783 Current Attempt in Progress As an auditor for the CPA fierm of Hinkson and Calvert. you encounter the following situations in auditing different clients 1. Widhorse Co.is a closely held corporation whose stock is not publichy traded.On December 5, the corporation acquired land by insusing 5,000 shares 2 Pharoah Company is a publicly beld corporation whose conmon stock is traded on the securities markets. On June 1, it acquired land by of its $20 par value common stock. The owners' asking price for the land was $135,000, and the fair value of the land was $115,000 issuing 21000 shares of its 59 par value stock.At the time of the exchange, the land was advertised for sale at $272,000. The stock was selling at 510 per share Prepare the journal entries for each of the situations above. (Record journal entries in the order presented in the problem. Credit account titles one autiomatically dented when amount hentered Do not ident manaly "no entry is reguhod select Entry-for theocount titles anderter Ofortheamounts No. Dates Account Titles and Explanation Debit Credit 2 e Todbook and Media List of Accounts Attempts O of 3 used Save for L