MK the sole stockholder, contributed $77,000 in cash and land worth $144,000 in exchange for common stock to open a new business, FCC Consulting. Which of the following general journal entries will FCC Consulting make to record this transaction? Debit assets $221,000; Credit Common Stock, $221,000. Debit cash $77,000; debit land $144,000; Credit Common Stock, $221,000. O Debit Cash and Land, $221,000; Credit Common Stock, $221,000. Debit Common Stock, $221,000; credit cash $77,000; credit land $144,000. Debit Common Stock, $221,000; credit assets $221,000.