Maltese is a privately-owned company. On September 3, Maltese exchanged 2,000 shares of its private common stock for equipment. There is no readily available estimate of the stocks fair value. The equipment currently is selling for $80,000. The journal entry to record this transaction includes:

Multiple choice:

Debit Equipment 80000

Credit Cash 80000

Credit Stock revenue 80000

No entry is recorded for this exchange