uestion 1 s an auditor for the CPA firm of Hinkson and Calvert, you encounter the following situations in auditing different clients. Blue Spruce Corp. is a dosely held corporation whose stock is not publicly traded. On December 5 the corporation acquired land by issuing 3 500 shares of its $19 par value common stock. The owners' asking price for the land was $133,500, and the fair value of the land was $119,000. the time of the exchange, the land was advertised for sale at $273,000. The stock was selling at $12 per share. . Sandhil Co. is a publicly held corporation whose common stock is traded on the securities markets. On June 1, it acquired land by issuing 19,000 shares of its $11 par value stock. At wheh amount is entered. Do not Indent manually. Ir no entry Is required, select "No Entry for the account titles and enter O for the amounts) Credit 2