On February 1, 2021, the Xilon Corporation issued 40,000 shares of its no-par common stock in exchange for five acres of land located in the city of Monrovia. On the date of the acquisition, Xilon's common stock had a fair value of $14 per share. An office building was constructed on the site by an independent contractor. The building was completed on November 2, 2021, at a cost of $6,100,000. Xilon paid $4,050,000 in cash and the remainder was paid by the city of Monrovia. Journal entry worksheet 1 2 > Record the acquisition of land in exchange for common stock. Note: Enter debits before credits. General Journal Debit Credit Date February 01, 2021 Record entry Clear entry View general Journal Journal entry worksheet 1 2 > Record the acquisition of a building through purchase and donation. Note: Enter debits before credits. General Journal Debit Credit Date November 02, 2021 Record entry Clear entry View general journal