Fatima Corporation was organized on January 1, 2020. It is authorized to issue 600,000 shares of no par common stock with a stated (par) value of $2 per share. Instruction: Prepare the journal entry to record the following: August 1: Issued 25,000 shares of common stock for land. The asking price of the land was $100,000; the fair market value of the land was $90,000.