Performance Matte ! Play ahooll- Ente. Se Kingdoms-Bro Now cw Policies current Attempt In Progress 044:39 Hide Times Oriole Company is authorized to issue 10000 shares of 8%. $100 par value preferred stock and 580000 shares of no par common stock with a stated value of $1 per share. If Oriole issues 7000 shares of preferred stock for land with an asking price of $980000 and a market value of $735000, which of the following would be the best journal entry for Oriole to record? Land 735000 Preferred Stock 735000 Land 700000 Preferred Stock 700000 Land 735000 Preferred Stock 700000 35000 Paid-in Capital in Excess of Par - Preferred Land 980000 Preferred Stock 700000 280000 Paldin Capital in Excess of Par Preferred