The Blair Corporation issued 240 shares of common stock (par value $200 per share) for land having a fair market value of $60,000 at the date of transfer. Which of the following is the required entry?

a.

Land	60,000
Common Stock		60,000

b.

Land	48,000
Common Stock		48,000

c.

Land	60,000
Common Stock		48,000
Paid-in Capital in Excess of Stated Value		12,000

d.

Land	60,000
Common Stock		48,000
Paid-in Capital in Excess of Par Value		12,000