As an auditor for the CPA firm of Hinkson and Calvert, you encounter the following situations in auditing different clients. LR Corporation is a closely held corporation whose stock is not publicly traded. On December 5, the corporation acquired land by issuing 4,700 shares of its $19 par value common stock. The owners' asking price for the land was $124,400, and the fair value of the land was $124,500. Vera Corporation is a publicly held corporation whose common stock is traded on the securities markets. On June 1, it acquired land by issuing 20,300 shares of its $10 par value stock. At the time of the exchange, the land was advertised for sale at $268,500. The stock was selling at $11 per share. Prepare the Journal entry for each of the situations above