Novak Corp. is authorized to issue 15000 shares of 9%, $100 par value preferred stock and 435000 shares of no-par common stock with a stated value of $1 per share. If Novak issues 6000 shares of preferred stock for land with an asking price of $750000 and a market value of $630000, which of the following would be the best journal entry for Novak to record?

Land		630000
	Preferred Stock		600000
	Paid-in Capital in Excess of Par - Preferred		30000

Land		600000
	Preferred Stock		600000

Land		630000
	Preferred Stock		630000

Land		750000
	Preferred Stock		600000
	Paid-in Capital in Excess of Par - Preferred		150000