Bramble Corp. is authorized to issue 10000 shares of 6%, $100 par value preferred stock and 520000 shares of no-par common stock with a stated value of $1 per share. If Bramble issues 7500 shares of preferred stock for land with an asking price of $862500 and a market value of $862500, which of the following would be the best journal entry for Bramble to record? 862500 O Land Preferred Stock Paid-in Capital in Excess of Par- Preferred 750000 112500 O Land 750000 Preferred Stock 750000 Land 862500 Preferred Stock Paid-in Capital in Excess of Par- Preferred 750000 112500 Land 862500 Preferred Stock 862500