equity were completed during the first year of operations:

Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank.

a$.$ Issued $100,000$ shares of stock at par to Paul Glenn for cash.

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c$.$ Purchased land and a building from Gretchen Northway in exchange for stock issued at par. The land has a fair value of $$60,000,$ and the building has a fair value of $$120,000.$

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