Nash's Trading Post, LLC is authorized to issue 10000 shares of 6%, $100 par value preferred stock and 400000 shares of no-par common stock with a stated value of $1 per share. If Nash's issues 5000 shares of preferred stock for land with an asking price of $550000 and a market value of $525000, which of the following would be the best journal entry for Nash's to record? Land Preferred Stock Land Preferred Stock Paid-in Capital in Excess of Par- Preferred Land Preferred Stock Land Preferred Stock Paid-in Capital in Excess of Par- Preferred 525000 550000 525000 500000 50000 500000 500000 525000 500000 25000