Blue Lantern, Inc. issued 25,000 shares of $30 par common stock in exchange for land that has a fair market value of $1,000,000 and historical cost of $800,000 Which journal entry reflects this transaction? Common stock 800,000 Land 800.000 Common 750,000 stock Land 750,000 Land 1,000,000 Common stock 750,000 Paid-in capital in 250,000 excess of par Land 800,000 Common 750,000 stock Paid-in capital in 50,000 excess of par