Blue Company obtained land by issuing 2,430 shares of its $12 par value common stock. The land was recently appraised at $106,500. The common stock is actively traded at $42 per share. Prepare the journal entry to record the acquisition of the land. (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 O for the amounts.) Account Titles and Explanation Debit Credit