If a corporation purchases a delivery van for $35,000 cash, the net impact of this transaction will be O A. a decrease in total assets of $35,000. O B. no impact on total assets. O c. an increase in both assets and liabilities of $35,000. OD. an increase in total assets of $35,000. Lartex, a new company, completed these transactions. 1. Stockholders invested $56,000 cash and inventory with a fair value of $32,000. 2. Sales on account, $19,000. What will Lartex's total assets equal? A. $88,000 OB. $75,000 OC. $107.000 D. $56,000 The journal entry to record the acquisition of land and a building by issuing common stock A. debits Common Stock and credits Land and Building. B. debits Land and credits Common Stock C. debits Land, Building, and Common Stock. OD. debits Land and Building and credits Common Stock