As an auditor for the CPA firm of Hinkson and Calvert, you encounter the following situations in auditing allerent clients. 1. Saresote Corporation is a closely held corporation whese stock is not publicly traded on December 5, the corporation acquired land by issuing 5,000 shares of its $20 per ve common stock. The owners asking price for the land was $135,000, and the fair value of the land was $115,000 2. Briegeport Corporation is a publicly held corporation whose common stock is traded on the securities markets. Onune 1, acquired tona by saving 21,000 shares of its 59 per value stock. At the time of the exchange, the land was advertised for sale at $272,000. The stock was selling at $10 per share. Propere the journal entries for each of the situations above. (Record journal entries in the order presented in the problem. Credit account titles are automatically indested when amount is entered. Do not indent manually.) Account Tities and Explanation Debit Dates Credit Chick If you would like to show Work for this question: Don Show Work