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Samuel Sorenson, the sole stockholder, contributed $91,000 in cash and land worth $172,000 in exchange for common stock to open a new business, SS Consulting.

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Samuel Sorenson, the sole stockholder, contributed $91,000 in cash and land worth $172,000 in exchange for common stock to open a new business, SS Consulting. Which of the following general journal entries will SS Consultingg make to record this transaction? Multiple Choice Debit Common Stock, $263,0o0; credit cash $91,000; credit land $172.000 Debit Common Stock, $263.000; credit assets $263,000. Debit cash $91,000; debit land $172,000; Credit Common Stock, $263,000 Debit Cash and Land, $263.000, Credit Common Stock, $263,000 Debit assets $263.000: Credit Common Stock, $263.000 Next> 16 of 30

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