Below are transactions related to Teal Company.

(a)		The City of Pebble Beach gives the company 5 acres of land as a plant site. The fair value of this land is determined to be $85,630.
(b)		13,000 shares of common stock with a par value of $53 per share are issued in exchange for land and buildings. The property has been appraised at a fair value of $856,300, of which $166,400 has been allocated to land and $689,900 to buildings. The stock of Teal Company is not listed on any exchange, but a block of 100 shares was sold by a stockholder 12 months ago at $69 per share, and a block of 200 shares was sold by another stockholder 18 months ago at $61 per share.
(c)		No entry has been made to remove from the accounts for Materials, Direct Labor, and Overhead the amounts properly chargeable to plant asset accounts for machinery constructed during the year. The following information is given relative to costs of the machinery constructed.

Materials used		$13,260
Factory supplies used		926
Direct labor incurred		14,790
Additional overhead (over regular) caused by construction of machinery, excluding factory supplies used		2,654
Fixed overhead rate applied to regular manufacturing operations		60% of direct labor cost
Cost of similar machinery if it had been purchased from outside suppliers		46,670

Prepare journal entries on the books of Teal Company to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

No. Account Titles and Explanation Debit Credit (a)