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Splish Brothers Corporation is a publicly held corporation whose shares, issued at $1 per share are actively traded at $ 20 per share. The company

Splish Brothers Corporation is a publicly held corporation whose shares, issued at $1 per share are actively traded at $ 20 per share. The company issued 1300 shares to acquire land recently appraised at $ 10700. When recording this transaction, Splish Brothers will credit Common Shares for $ 26000. debit Land for $ 15300. credit Gain on Purchase of Land for $ 15300. debit Land for $ 10700.

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