The Royce Company is acquiring a piece of land and is assessing two alternatives. The various costs and details are as follow Land price $625,000 Removal of shed $18,000 Salvage value of shed $4,100 Real estate broker commission $18,750 Parking lot paving $75,000 Real estate closing costs $15,625 Common Stock par value $1.50 Common Stock market value $57 A) If Royce pays cash for the activity above, how much will it record as the cost of the land? B) If Royce issues 13,000 shares of common stock instead of paying cash for the transaction, what is the journal entry that it will record? You may omit the journal entry description. Edit Format Table