Batalla Company issued 10,000 shares of its $5 par value common stock having a market value of $25 per share for land with an appraised value of $300,000. Which of the following is true?

1. Cash is debited for $250,000

2. Additional Paid-in Capital is credited for $250,000

3. Additional Paid-in Capital is credited for $200,000

4. Land is debited for $300,000