Required information Exercise 10-11 (Static) IFRS, acquisition cost; issuance of equity securities and donation (L010-4, 10-9] The following information applies to the questions displayed below) On February 1, 2021, the Xilon Corporation issued 50,000 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 $18 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 $6,000,000, Xilon paid $4,000,000 in cash and the remainder was paid by the city of Monrovia, Exercise 10-11 (Static) Part 1 Required: 1. Prepare the journal entries to record the acquisition of the land and the building. (If no entry is required for a transaction/event. select "No journal entry required" in the first account field.) Required information Journal entry worksheet 2 > Record the acquisition of land in exchange for common stock. Note: Enter debits before credits. General Journal Debit Credit Date February 01, 2021 Required information Journal entry worksheet