corporation issued 5,600 shares of $10 par value common stock in exchange for some land with a market value of $82,000. The entry to record this exchange is: Multiple Choice Debit Land $82,000; credit Common Stock $56,000; credit Paid-In Capital in Excess of Par Value, Common Stock $26,000. Debit Land $82,000; credit Common Stock $82,000. Debit Land $56,000; credit Common Stock $56,000. Debit Common Stock $56,000; debit Paid-In Capital in Excess of Par Value, Common Stock $26,000; credit Land $82,000. Debit Common Stock $82,000; credit Land $82,000