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Crawford Corporation issues 1,000 shares of $10 par common stock that is not widely traded for an acre of land appraised at $20,000. The journal

Crawford Corporation issues 1,000 shares of $10 par common stock that is not widely traded for an acre of land appraised at $20,000. The journal entry would include

  1. a debit to Land for $20,000.
  2. a credit to Common Stock for $10,000.
  3. a credit to Additional Paid-In Capital for $10,000.
  4. all of these.

 

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