Lester Company transferred the following assets to a newly created subsidiary, Mumby Corporation, in exchange for 40,000 shares of its $3 par value Stock Cost Book Value Cash 40,000 40,000 Accounts Receivable 75,000 68,000 Inventory 50,000 50,000 Land 35,000 35,000 Buildings 160,000 125,000 Equipment 240,000 180,000 a. give the journal entry in which Lester recorded the transfer of assets to Mumby Corporation b. give the journal entry in which Mumby recorded the receipt of assets and issuance of common stock to Lester