On December 2, 2018, Eshares, Inc. purchases land. In payment for the land, Eshares, Inc. issues

8,000

shares of common stock with

$1

par value. The land has been appraised at a market value of

$400,000.

Which of the following is included in the journal entry to record this transaction?

A.credit Common

Stock$1

Par Value for

$8,000

and credit

PaidIn

Capital in Excess of

ParCommon

$392,000

B.credit Common

Stock$1

Par Value for $400,000

C.debit Common

Stock$1

Par Value for

$8,000

and debit

PaidIn

Capital in Excess of Par

Common

$392,000

D.

debit Cash $400,000