Richard Redden contributed $71,000 in cash and land worth $132,000 to open a new business, RR Consulting, Inc. Which of the following general journal entries will RR Consulting, Inc. make to record this transaction?

Debit Assets $203,000; credit Common Stock $203,000.

Debit Cash and Land, $203,000; credit Common Stock $203,000.

Debit cash $71,000; debit land $132,000; credit Common Stock $203,000.

Debit Common Stock $203,000; credit cash $71,000; credit Land $132,000.

Debit Common Stock $203,000; credit Assets $203,000.