Required information [The following information applies to the questions displayed below] On February 1, 2021, the Xilon Corporation issued 52,000 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 $15 per share. An office building was constructed on the site by an independent contractor. The buliding was completed on November 2, 2021, at a cost of $7,300,000. Xllon paid $4,650,000 in cash and the remainder was paid by the city of Monrovia. Required: 1. Assuming that Xilon prepares its financial statements according to U.S. GAAP. prepare the journal entries to record the acquisition of the land and the buliding. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Note: Enter debits before credits. Record the acquisition of a building through purchase and donation. Note: Enter debits before credits