Company A gave land to an employee as payment for services rendered. The land originally cost $43,000 when the Company bought it, but it had a value of $52,000 on the date it was given to the employee.

Make the journal entry (or entries) necessary to record this transaction.

Select one:

a.

Wage Expense	43,000
Land		$43,000

b.

Wage Expense	43,000
Loss on Sale of Land	9000
Land		$52,000

c.

Wage Expense	52,000
Land		$52,000

d.

Wage Expense		52,000
	Land		$43,000
	Gain on Sale of Land		$9,000