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Land appraised at OMR 110,000 is purchased by issuing 100,000 OMR 1.000 par value ordinary shares. The market price of the shares at the time

Land appraised at OMR 110,000 is purchased by issuing 100,000 OMR 1.000 par value ordinary shares. The market price of the shares at the time of the exchange, based on active trading in the securities market, is OMR 1.750 per share. Should the land be recorded at OMR100,000, OMR 110,000, or OMR 175,000? Explain it and show the necessary journal entry.

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