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Victor Cruz contributed $90,000 in cash and land worth $170,000 to open a new business, VC Consulting, in exchange for common stock. Which of the
Victor Cruz contributed $90,000 in cash and land worth $170,000 to open a new business, VC Consulting, in exchange for common stock. Which of the following general journal entries will VC Consulting make to record this transaction? Multiple Choice Debit Accounts Payable $260,000; Credit Common Stock, $260,000 Credit Cash and Land, $260,000; Credit Common Stock, $260,000 Debit Cash $90,000; Debit Land $170.000, Credit Common Stock, $260,000 Debit Common Stock, $260,000; Credit Cash $90,000; Credit Land $170,000
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