Concord Company obtained land by issuing $2,890$ shares of its $ $10$ par value common stock. The land was recently appraised at

$$131,390.$ The common stock is actively traded at $$44$ per share.

Prepare the journal entry to record the acquisition of the land. $($Credit account titles are automaticaly indented when amount is entered.

Do not indent manualy If no entry is required, select $"$No Entry' for the account titles and enter ofor the amounts Uist al debit entries before

credit entries.$)$