On June 1, 4,000 shares of $20 par value common stock are issued in exchange for new equipment. Comparable equipment sells for $116,000 cash. Other shares of this class of common stock originally sold for $35 per share. The journal entry to record this exchange should debit the Equipment account for what amount? On June 1, 4,000 shares of $20 par value common stock are issued in exchange for new equipment. Comparable equipment sells for $116,000 cash. Other shares of this class of common stock originally sold for $35 per share. The journal entry to record this exchange should debit the Equipment account for what amount? $60,000 $80,000 $140,000 $0 $116,000