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Stunda Company has $1 par value stock that is actively traded at $31 per share. The company issued 3,000 shares of stock to acquire land

Stunda Company has $1 par value stock that is actively traded at $31 per share. The company issued 3,000 shares of stock to acquire land recently advertised at $100,000. When recording this transaction, Stunda Company will

debit land for $100,000

credit common stock for $93,000

debit land for $93,000

credit paid in capital in excess of par for $93,000

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