Our company purchased daily office supplies on credit. The journal entry made and posted to our general ledger will include a: Credit to Accounts Payable Debit to Accounts Receivable Credit to Common Stock Credit to Cash D Question 8 2 pts You are starting a business as a corporation. The corporation is a separate entity from you (as you know). You contribute $70,000 in cash and land worth $130,000 to open this new business, in exchange for 100% of the common stock/initial investment of ownership of the corporation (you have invested personal assets to form a corporation). Which of the following journal entries will you post to the general ledger of your new corporation to record this transaction? Credit Cash and Land, $200,000; Credit Common Stock. $200,000 Debit Common Stock, $200,000; Credit Assets, $200,000 Debit Cash $70,000; Debit Land $130,000; Credit Common Stock. $200,000 Debit Accounts Payable $200,000Credit Common Stock, $200,000