Tacy Taco's company was authorized to issue an unlimited number of common shares. During April 2021, its first month of operations, the following transactions occurred:

Apr.	1	2,000 shares were issued to the promoters of the corporation. The value of the shares was $16,000.
Apr.	6	13,500 shares were sold to various shareholders for $12.00 each.
Apr.	21	3,000 shares were issued in exchange for land with a fair market value of $48,000.

Prepare the entry required on April 21.

Debit: Common Shares - 48,000, Income Summary - 48,000, Cash Dividends - 48,000, Retained Earnings - 48,000, Cash - 48,000, Land - 48,000

Credit: Common Shares - 48,000, Income Summary - 48,000, Cash Dividends - 48,000, Retained Earnings - 48,000, Cash - 48,000, Land - 48,000